How Much Life Insurance
Do You Really Need?
Estimate the coverage needed to protect your mortgage, replace income, and help support the people who depend on you.
This life insurance needs calculator helps estimate coverage needs based on your financial situation.
Coverage Needs Estimator
Enter your financial details to see three personalised coverage scenarios.
Based on your inputs, you may be under-insured.
Your Coverage Estimate
Three tiers based on your financial profile. Amounts shown are the total coverage recommended.
Minimum Protection
Enough to pay off your mortgage and major obligations, so your family isn’t left carrying debt.
Income Replacement
Designed to replace income and give your family real financial flexibility over the years ahead.
Comprehensive Coverage
Provides broader income-replacement capacity and additional room for long-term family planning.
Want to See What This Coverage Would Cost?
Many healthy adults are surprised by how affordable term life insurance can be. A conversation takes about fifteen minutes.
What Factors Affect How Much Life Insurance You Need?
Mortgage Obligations
Your mortgage is often the largest single liability a surviving family member would inherit. A policy sized to cover the remaining balance means your household can stay in its home regardless of what happens to the primary earner.
Income Replacement
Multiplying annual income by 10 to 15 years gives surviving family members time to stabilize financially, adjust career plans if needed, and avoid making major financial decisions under pressure. The right multiplier depends on the age of your dependents and your household’s fixed expenses.
Children and Dependents
Each dependent adds meaningful financial responsibility, from daily expenses to future education costs. Many advisors suggest an additional $50,000 to $100,000 per dependent as a planning buffer, though the appropriate figure rises if you have younger children or specific educational goals in mind.
Existing Life Insurance
Group coverage through an employer is a useful starting point, but it typically leaves with you if you change jobs or are laid off. Knowing your current total death benefit helps you identify the actual gap between what you have and what your family would need to maintain their financial footing.
Debt Obligations
Auto loans, personal loans, and credit card balances don’t disappear when a borrower passes. Including these in your coverage estimate prevents your estate from being reduced or your family from inheriting obligations they weren’t prepared to manage on a single income.
Next Steps
Learn More About Your Life Insurance Options
This life insurance needs calculator is a starting point. These resources can help you compare coverage types, understand your options, and decide what to review next.
For additional life insurance consumer information, visit the Texas Department of Insurance or the National Association of Insurance Commissioners .