Insurance Needs Calculators
How much life, disability and long-term care insurance your family needs, with illustrative monthly costs for each, and one summary that adds them up.
Your numbers
Gender (for pricing)
Health
Your age
1875
$
≈ $80,000/yr · $6,667/mo · $38.46/hr
Years to replace income
530
Dependents (children)
08
College fund per child$
$0$250,000+
Mortgage balance$
$0$1,500,000+
Student loans$
$0$300,000+
Other debt$
$0$200,000+
Final expenses$
$0$50,000+
Emergency fund for family$
$0$200,000+
Existing life insurance$
$0$5,000,000+
- Recommended coverage
- $2.19MTotal need $2.19M less existing coverage
- 20-yr term (popular)
- $161/mo
How we got there
- Income replacement (20 yrs)
- $1,600,000
- College fund
- $200,000
- Debt payoff
- $350,000
- Final expenses
- $15,000
- Emergency fund
- $30,000
- Total need
- $2,195,000
Illustrative monthly cost
- 10-yr term
- $119
- 20-yr term
- $161
- 30-yr term
- $214
- Whole life
- $1,605
Save results
How this is calculated
We size your life-insurance need from the income, debts, and future costs your family would have to cover, minus what you already have.
The steps
- Add up income to replace (years × annual income), outstanding debts, and big future costs (e.g. college).
- Subtract existing savings and current coverage.
- The remainder is your suggested coverage gap.
Assumptions
- An income-replacement / DIME-style approach with inputs you provide.
Good to know
- A rule-of-thumb estimate; doesn’t replace a full needs analysis.
Related resources
Educational disclaimer. Everything on WealthSerene.com is educational and is not investment advice. Projections and calculations are illustrative; actual results depend on market conditions, your situation and factors outside this tool’s scope. For a decision specific to your situation, consult a qualified financial professional. View full disclosures