Insurance
Life Insurance Needs
Estimate how much coverage would actually protect your family.
What this means
If someone depends on your income, this estimate — about $810,000— is what it would take to replace your paycheck, clear the debts, and cover what’s ahead, minus what your family already has.
A need this size is almost always covered most affordably with term life insurance, not whole life. Employer coverage is usually only one or two times your salary — far short of this — so it’s rarely enough on its own. This is a starting estimate, not personalized advice; a fee-only pro (through Your Crew) can confirm the right amount and type for you.
Build on it
These are estimates to help you think — not personalized legal, tax, or investment advice, and not a promise of any result. In the app, Brix reads your numbers and turns them into your next step.
This calculator estimates how much life insurance would actually protect your family: enough to clear the debts, replace the years of income they'd lose, fund goals like college, and handle final expenses — minus the savings and coverage you already have.
Why it matters: life insurance has one job — if you're gone, the people who count on your paycheck aren't broke. Working from your real obligations beats grabbing a round number, because the round number is usually wrong in the direction that hurts your family.
How to use it
- 1
Enter what depends on your income
Your annual income and the number of years your family would need it replaced — often until the kids are grown or the mortgage is done.
- 2
Add the debts and the goals
Mortgage balance, other debts, future costs like college, and final expenses. Then enter what's already in place — savings and current coverage both shrink the need.
- 3
Read the coverage gap
The result is the coverage that fills the gap between what your family would need and what already exists. Use it as your baseline when you shop — term quotes are quick to get and easy to compare against it.
Behind the numbers
What the coverage actually replaces
It stands in for the money you would have brought home: income for the years your family relies on it, payoff for debts that would otherwise fall on them, and future costs like education. That's why the right amount is personal, not one-size.
Term vs. permanent, in one breath
Term insurance covers a set number of years at a lower cost, which suits most working families — the need is temporary because kids grow up and mortgages get paid. Permanent policies last a lifetime and build cash value, but cost more for the same coverage.
Your number changes with your life
New baby, new house, a raise, a paid-off mortgage — each one moves the target, so rerun the numbers after big life changes. And before you buy or replace a policy, confirm the specifics with a licensed insurance professional — this estimate is a starting point, not a policy recommendation.
Common questions
How much life insurance do I need?
Enough to replace your income for the years your family depends on it, clear the debts, fund the goals you've promised them, and cover final expenses — minus the savings and coverage you already have. The calculator works through that math with your numbers.
Do I need life insurance if I'm young and healthy?
If someone depends on your income — a partner, kids, a co-signed loan — yes, and coverage generally costs the least when you're young and healthy. If nobody relies on your paycheck yet, the need is smaller, though locking in low rates early is a reason some people buy anyway.
Is term or whole life insurance better?
For most working families, level term coverage matched to the years of need delivers the most protection per dollar. Permanent insurance fits specific situations, like lifelong dependents or certain estate plans. Before you sign anything, have a licensed insurance professional confirm what fits your situation.
Go deeper
The calculator gives you a number. The Life Insurance Brick teaches you what to do with it, in plain English. And if you’re not sure where to start, the free BrickScore checks your whole foundation in about five minutes.