Calculate your life insurance coverage
Not sure where to start with life insurance? Use our helpful calculators to figure out how much life insurance coverage you need to protect your family.
There are a few ways to think about your coverage amount. A simple way to calculate this is by multiplying your annual salary by 10. Or, you can use the tools below to get a more detailed estimate. Alternatively, you can use the DIME method to add up what you need.
Total coverage = Debt + Income + Mortgage + Education costs
If you want help getting a more detailed recommendation, try our Coverage Calculator.
Determining the right term length can depend on several factors. Consider a term that would cover your family for the number of years they would depend on you, financially or otherwise. You may want a term that lasts until:
- You retire
- Your children are grown and are no longer dependents
- Your mortgage is paid off
- You reach your savings goals
If you were to pass away, your loved ones don't just lose you, they also lose the financial support you provide. A term life insurance policy can help your family maintain the lifestyle they've grown to love and provide long-lasting financial security. Your family can use the payout to help cover everyday living expenses and just about anything else they need, such as:
- Funeral costs
- Mortgage or housing costs
- Medical expenses
- Retirement income
- Your student loans or children's college tuition
- Debts
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Our customer support team is happy to answer any questions you may have.
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