Life Insurance | We Insure Things

We Insure Things • Life Insurance

Protect What Matters Most

Life insurance can help your family cover living costs, debts, and future goals if you were to pass away. Use our calculator below to estimate how much coverage might make sense for you—then apply online in minutes.

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Life Insurance 101

Term life offers straightforward protection for a set period (e.g., 10–30 years) with typically the lowest cost per dollar of coverage. Many families use term life to match their mortgage or years until retirement.

Permanent life (Whole, Universal, etc.) includes lifelong coverage and may build cash value. It can support estate or business planning—often paired with a term policy for income protection.

Not sure what you need? Estimate coverage below and we’ll help you compare options.

Life Insurance Needs Calculator

This tool mirrors the industry-standard worksheet (income replacement + specific expenses − existing assets). Your numbers stay in your browser.

Estimated Need $0

1) Income Replacement

Current total household income (before tax)

Used to suggest a replacement amount.

Target income replacement

70% of current income (typical 60%–75%).

Annual income your family would need if you died today

You can override the suggested amount.

Annual income from other sources

Spouse/partner earnings, fixed pension, etc.

Years income needed (Table A)

We apply the matching capital factor for net present value.

How the income factor works

The factor translates an annual income gap into a lump sum needed today (NPV), assuming 6% investment return and 3% cost-of-living inflation. See Table A in the classic worksheet.

2) Specific Expenses

Funeral & final expenses

Default $15,000 (or more if desired).

Mortgage & other debts

Mortgage balance, credit cards, auto loans, etc.

College funding (optional)

Child 1: 4-year cost

Choose average or enter custom cost.

Child 2: 4-year cost

Child 3: 4-year cost

3) Current Assets

Savings & investments

Bank, brokerage, CDs, mutual funds, annuities, etc.

Retirement savings

401(k), IRA, SEP/SIMPLE, pensions, etc.

Existing life insurance

Include employer-provided group life.

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Live Worksheet

1) Family income needed

2) Income from other sources

3) Income to be replaced (1 − 2)

4) Capital for income (3 × factor)

5) Final expenses

$15,000

6) Mortgage & debts

7) College funding (NPV)

8) Total capital required

9) Savings & investments

10) Retirement savings

11) Existing life insurance

12) Total income-producing assets

13) Estimated Life Insurance Needed $0

FAQs

How do I choose term length?

Match coverage to major time-bound obligations: years until retirement, kids’ independence, or your mortgage payoff. Many people choose 20 or 30 years.

Should I ladder policies?

Some households buy multiple term policies with different end dates (e.g., 10-, 20-, and 30-year). This can better match declining needs and potentially reduce cost.

What about riders?

Common riders include a waiver of premium (if disabled), child term rider, and term conversion options. We’ll help you compare these when you quote.

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This calculator references the traditional Life Insurance Needs Worksheet (factors assume 6% return, 3% inflation for living costs, and 5% for college costs). A licensed professional can help tailor assumptions to your situation.