How much life insurance do you need?

Add up what your family would need, subtract what you already have, and see your coverage gap. Takes about 3 minutes. Nothing is saved or sent unless you ask for your results.

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Income your family would need

Your yearly income (before taxes)

% of your income to replaceMany planners use 60%–80%.

Years your family needs supportOften until your youngest child turns 18, or until your spouse retires.

Yearly income your family would still haveSpouse's income, survivor benefits, etc. Leave 0 if unsure.

Assumptions (optional)

Yearly return on the payout (%)

Yearly inflation (%)

Final expenses

Funeral type National medians, NFDA 2023. Cemetery plot, headstone, and flowers are usually extra.

Final medical bills, legal, and estate costs

Debts to pay off

Mortgage balance

Other debts (car, student loans, credit cards)

Children

Children to put through college

Type of school Average published tuition & fees, 2025–26, College Board.

Years of school per child

Add housing, food & books per year (optional)Tuition figures above don't include living costs.

Childcare cost per year

Years of childcare needed

Other goals

Emergency fund (months of expenses)3–6 months is common.

Legacy, gifts, or charity

What you already have

Life insurance you own personally

Life insurance through work

Savings & investments your family could useLeave out retirement accounts you want to keep for retirement.

How this works

The math behind your number

Income replacement. We take the yearly amount your family would need (your income × the percent to replace, minus other income they'd still have) and figure out how big a lump sum would cover it for the years you chose. By default we assume the payout earns 4% a year and costs rise 2% a year, the same assumptions used by the nonprofit Life Happens. Payments are assumed at the start of each year. Turn on "simple math" to just multiply yearly need × years.

Everything else (final expenses, debts, college, childcare, emergency fund, and legacy) is added in today's dollars.

Then we subtract the life insurance you own, savings your family could use, and your work coverage only if you choose to count it.

Rounded coverage is shown in $25,000 steps because that's how many policies are sold.

Sources

Funeral costs: National Funeral Directors Association, 2023 General Price List Study (latest published).

College costs: College Board, Trends in College Pricing 2025.

Income replacement assumptions: Life Happens needs calculator (4% return, 2% inflation).

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We'll send a copy of your estimate. If you'd like, Ryan can look it over with you for free.