Financial Protection
Insurance Needs Calculator
Determine how much insurance coverage you need to protect your family and assets.
Income Replacement
Annual Income
$
Your current annual income before taxes
Income Replacement Ratio
%
Percentage of income needed to maintain lifestyle (typically 60-80%)
Years of Coverage Needed
years
Number of years your family needs income replacement
Outstanding Obligations
Mortgage Balance
$
Remaining balance on your home mortgage
Other Debts
$
Auto loans, student loans, credit card debt, etc.
Additional Needs
Final Expenses
$
Funeral, estate, and other end-of-life costs
Education Fund
$
College or education funding for dependents
Existing Insurance
$
Any current life insurance policies you already have
Need
100%
Total Insurance Needed
$0
coverage gap to fill
Income Replacement
$0
Debt Obligations
$0
Additional Needs
$0
Existing Insurance
$0
📊 Detailed Breakdown
| Category | Amount | % of Total |
|---|
How the formula works
Insurance Need = (Income × Ratio × Years) + Mortgage + Debts + Final Expenses + Education − Existing Insurance
- Income Replacement = Annual Income × Replacement Ratio × Years of Coverage
- Debt Obligations = Mortgage Balance + Other Debts
- Additional Needs = Final Expenses + Education Fund
- Total Need = Income Replacement + Debt Obligations + Additional Needs
- Insurance Gap = Total Need − Existing Insurance (what you still need to buy)
- Consider inflation and investment returns for more precise calculations