Income & Dependents
Debt & Obligations
Credit cards, personal loans, car loans
Average 4-year public: ~$100K; private: ~$220K
National average: $7,000–$15,000
Existing Coverage
Include employer-provided coverage
Coverage Analysis
How much life insurance do you need?
Income Replacement$974,430
Debt Coverage$15,000
Mortgage Payoff$280,000
College Fund$702,909
Final Expenses$15,000
Emergency Fund$30,000
Total Needs$2,017,338
Existing Insurance−$150,000
Savings & Investments−$80,000
Spouse Income Offset−$225,000
Additional Coverage Needed
$1,562,338
Est. monthly cost (20-yr term, healthy): ~$1,250/mo
Term Life
Cheapest, pure coverage for a set period (10-30 years)
Whole Life
Lifetime coverage + cash value, 5-15× more expensive
Universal
Flexible premiums, cash value, moderate cost
💡 Pro Tips: Buy term and invest the rest · Get coverage while you're healthy (rates increase with age) · Lock in a 20-30 year term when young · Consider both spouses · Review annually as needs change.
Data Source & Legal Disclaimer
Effective: 2026-01-01
Last updated: 2 weeks ago
Update frequency: Annual
This calculator provides estimates only. Actual insurance costs depend on age, health, smoking status, and other factors. This is not financial advice — consult a licensed insurance agent.