Guide
How much life insurance do I need?
The honest answer is a range, not a single number, and 'income times ten' skips most of what actually matters. Here's a layered way to think about it, then a free calculator that does the math for you.
Calculate My Protection NeedLayer 1: Income replacement
Start with the household income that would disappear. Multiply it by the number of years your family would need it, commonly 5, 10, 15 or 20. Families with young children often choose a longer horizon so the surviving parent isn't forced into immediate decisions.
Layer 2: Debts
Add the mortgage, auto loans, credit cards, student loans and any personal or business debt you wouldn't want your family to carry. Clearing the mortgage alone often changes whether a family can stay in their home.
Layer 3: Future goals
Add education funding, an emergency reserve, final expenses, special-needs planning and any legacy or business obligations. These are the goals that would still matter even if you weren't there to fund them.
Layer 4: Subtract what you already have
Subtract existing personal coverage, employer group coverage and savings genuinely earmarked for your family. Be careful with employer coverage: it usually ends when the job does. And not every investment account is liquid or intended for this purpose, so counting all of it can understate your gap.
Why a range?
Assumptions move: inflation, how long income is needed, what your family would actually spend down. A range keeps the estimate honest. Actual availability, cost and eligibility are determined by a carrier through underwriting and vary by state and individual circumstances.
This calculator provides an educational estimate based on the information you enter. It is not an insurance quote or recommendation and does not determine eligibility, underwriting, premium, policy performance or coverage availability. Actual insurance needs and options should be reviewed with a qualified licensed professional.