Family Protection Calculator
Enter your numbers and press Calculate coverage to see the estimate.
Every scenario uses the same formula — the preset just starts with sensible defaults for that situation.
Scenario walk-throughs
Family Protection Calculator
A family with young children usually balances three pillars: replacing the earner income, clearing the mortgage and funding college. This preset starts from those three.
A two-parent family often wants the surviving household to stay in the same home and keep the same standard of living. That means income replacement for the earning years, paying off the mortgage and education money for each child.
Example: a 40-year-old parent earning $90,000 with a $300,000 mortgage, $15,000 of other debt and $150,000 set aside for two children, holding $40,000 in savings and a $50,000 policy, lands near $1,295,000 of recommended coverage on a 12x multiple.
Run the numbers for both earners separately — a non-working or part-time spouse still provides real care value that would need replacing.
Questions for this scenario
What does family protection cover?
Income replacement for the earning years, clearing the mortgage and funding education are the three pillars most families protect against.
Should both spouses be insured?
Often yes. Even a non-working spouse delivers childcare and household value, so enter each person numbers separately.
Single Parent Life Insurance Calculator
One income usually supports the whole household, so the gap left by a lost income is larger relative to savings. This preset models a single earner with children.
A single parent has fewer layers of backup. If the earner dies, there is no second paycheck to absorb the loss, and the mortgage plus child costs keep running.
Example: a 35-year-old single parent earning $60,000 with a $200,000 mortgage, $10,000 of other debt and $120,000 of education money, with $20,000 in savings and no existing policy, lands near $900,000 of recommended coverage on a 12x multiple.
Trusted relatives or a legal guardian change the picture, but the household expenses do not. Keep the debt line honest and the estimate will be too.
Questions for this scenario
Why is coverage vital for a single parent?
There is often one income supporting the household, so the gap left by a lost income is larger relative to savings and harder to close.
What if I have no existing insurance?
Then the existing-insurance field stays at zero and the estimate reflects the full need you would have to replace.
Dual-Income No Kids Life Insurance Calculator
Child-free couples often ask whether they need coverage at all. The honest answer: a shared mortgage and joint living costs still leave a gap if one income disappears.
With no children the education line is zero, which shrinks the total fast. The real question for a dual-income couple is the mortgage: the survivor usually wants to keep the home without selling under pressure.
Example: two earners at $140,000 combined with a $350,000 mortgage, $20,000 of other debt, $80,000 in savings and a $100,000 existing policy land near $1,280,000 of recommended coverage on a 12x multiple.
Future plans matter here. If children or a bigger home are on the horizon, the number rises later — a level-term policy lets you adjust as the plan changes.
Questions for this scenario
Do child-free couples need life insurance?
Often yes — a mortgage and shared living costs still leave a gap if one income disappears. Future plans may add education costs later.
Why subtract existing insurance here?
If you already hold employer or personal policies, the calculator nets them out so you see only the remaining gap.
Stay-at-Home Spouse Insurance Calculator
A non-working spouse still delivers real value: childcare, meals, transport, household management. Insuring them means estimating the cost to replace that work.
Putting a dollar value on a stay-at-home spouse feels odd, but the family would have to buy that help. Full-time childcare plus household services can run $40,000 to $70,000 a year in many areas.
Example: replacing that work at $70,000 a year on a 12x multiple, with a $250,000 mortgage, $10,000 of other debt, $100,000 of education money, $30,000 in savings and a $50,000 policy, lands near $1,120,000 of recommended coverage.
Use the cost to replace their work as the income line, not zero. That is the honest number the household would face.
Questions for this scenario
How do I value a stay-at-home spouse?
Use the estimated cost to replace their childcare and household work, not zero. That better reflects the real gap the family would face.
What income should I enter?
Enter the replacement cost of their work as the income field. If care and services would cost $70,000 a year, that is the figure to use.
Frequently asked questions
Which scenario should I pick?
Choose the situation closest to your household, then adjust any field. Every scenario uses the same formula — the presets just start with sensible defaults for that situation.
Can I change the numbers after picking a scenario?
Yes. The scenario only pre-fills the fields. Edit any value and the result recalculates instantly.
Estimate only — not financial advice, and we do not sell insurance. The result is arithmetic on the numbers you enter, not a recommendation or a premium quote.