Should the mortgage be included?
Include the amount the surviving household would actually need to keep or replace the home. Full payoff is one option, not an automatic requirement.
PROTECTION · LEVEL 100
Life Insurance Needs Calculator
Estimate the financial obligations a life-insurance benefit may need to cover before comparing products.
Advanced assumptions Income replacement and existing coverage
Illustrative educational estimate. Returns and outcomes are not guaranteed.
RESULT—
HOW TO USE THE RESULT
Life insurance should cover a defined financial gap
The useful starting point is not a multiple of salary. Add the obligations and income replacement the household would need, then subtract assets and existing coverage that are truly available for that purpose. The remaining gap is an estimate to test before comparing policy types.
Do both spouses need coverage?
A nonworking or lower-earning spouse can still provide childcare, household management, benefits, and future earnings that would be expensive to replace.
Does this choose term or permanent insurance?
No. It estimates the need first. Duration, health, estate goals, guarantees, costs, and policy design determine which product—if any—fits the gap.
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