How Much Life Insurance Do I Need?

What goes into the number

Most people think about the same handful of things when deciding how much coverage to carry:

• Income your family relies on. How many years of support would they need if your paycheck stopped?
• Debts. A mortgage, car loans, credit cards, and anything a co-signer or spouse would be left to handle.
• Final expenses. Funeral and end-of-life costs, and any medical bills left over.
• Future costs. Childcare, school, or care for a family member who depends on you.
• What you already have. Savings, other policies, and coverage through work. Work coverage may not continue if you change jobs.

Add up what your family would need, subtract what they would already have, and you have a starting point. The calculators below do that math for you.