How Much Life Insurance Do You Need?

Find out in minutes using our calculator. Life insurance will never be as affordable as it is today.

A family taking a selfie
heart and a person inside

The most common purpose of life insurance is to provide money for your family if something happens to you. Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family.

Most people get life insurance to help:   

  • Pay off debt, like your mortgage 
  • Replace lost income to take care of loved ones 
  • Cover burial and final expenses   

So how much is enough?

That depends on your income, mortgage, and how much debt you have. 

Life Insurance Calculator

Estimate your coverage

How many school-aged kids do you have?

How much income would your family need replaced each year to maintain their quality of life? (Enter a dollar amount)

How many years would your family need this income?

0
0
20
Mortgage options

Do you have a mortgage?

How much do you owe on your mortgage?

Not including your mortgage, how much debt would your family need to pay off?

$5,000
$0
$500,000

What percentage of your children's education would you like to cover?

0%
0%
100%

Approximately, how much do you have in readily available assets?

$5,000
$0
$1,000,000

How much life insurance do you currently have?

$0
$0
$2,000,000

Your Result

You're in good shape!

Based on your answers, it sounds like you've already taken important steps to make sure you're covered.

As your life changes, your insurance needs might change, too. Schedule a complimentary review below to make sure you're properly protected.

This information is for illustrative purposes only and is not intended to be a recommendation for any specific product or amount of coverage. It does not take into consideration all factors that may affect your specific need, including social security benefits and the time value of money.

Here's how much life insurance you may need:

Based on your answers, you're well on your way to making sure you're covered.

As your life changes, your insurance needs might change, too. Request a complimentary review below to make sure you're properly protected.

This information is for illustrative purposes only and is not intended to be a recommendation for any specific product or amount of coverage. It does not take into consideration all factors that may affect your specific need, including social security benefits and the time value of money.

Here's how much life insurance you may need:

Based on your answers, it sounds like you may benefit from a complimentary review to make sure you're properly protected

Fill out the form below to request an appointment.

This information is for illustrative purposes only and is not intended to be a recommendation for any specific product or amount of coverage. It does not take into consideration all factors that may affect your specific need, including social security benefits and the time value of money.

Request a review

How we incorporated education costs into our calculation: Calculations are based on national cost estimates for attending a 4-year public in-state university. As of 2019, LendEDU estimates a 4-year public in-state university costing roughly $100,000.

How we incorporated funeral costs into our calculation: Using national median funeral cost averages as a guide, we applied a $7,500 funeral cost to this calculation.

Thank you!

Your request has been submitted.

“Many financial professionals recommend people have life insurance equal to 7-10 times their annual income.”

—Sheila Melzer, Vice President and Chief Actuary of Life and Health at COUNTRY Financial

COUNTRY Financial® is a family of affiliated companies (collectively, COUNTRY) located in Bloomington, IL. Learn more about who we are.

The decision to purchase life insurance should be primarily based on a need for the death benefit. Life insurance policies are not an investment and are not appropriate as a replacement for retirement savings accumulation. 

Life insurance policies issued by COUNTRY Life InsuranceCompany® and COUNTRY Investors Life Assurance Company®, Bloomington, Illinois.