How much coverage does your family actually need?
Move the sliders. In seconds you'll see a suggested coverage amount and a term length that covers your mortgage.
Your mortgage
Your family
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Your mortgage balance vs. suggested coverage
This calculator gives an estimate for education only. It isn't a quote or a recommendation. Actual coverage, rates, and eligibility depend on underwriting and the carrier. A licensed agent can help you choose.
How to use this mortgage protection calculator
This calculator estimates how much mortgage protection life insurance your family may need, using the same approach many agents use:
- Mortgage payoff: your remaining loan balance, so your family can keep the home.
- Income replacement: a few months to a few years of income to give your family time to adjust.
- Education: an estimated $25,000 per child toward future schooling.
- Existing coverage: life insurance you already own is subtracted.
The suggested term is the shortest standard term that covers the years left on your mortgage. The chart shows how your loan balance falls over time while level coverage stays the same, which is why many families choose level term over decreasing term.
Learn more
- How much mortgage protection do I need?
- How much does mortgage protection cost?
- Mortgage protection with no medical exam
Calculator FAQ
How is suggested coverage calculated?
We add your mortgage balance, the months of income you want to leave your family, and $25,000 per child for education, then subtract life insurance you already have. The result is rounded to the nearest $5,000.
How do I pick a term length?
Choose a term at least as long as the years left on your mortgage, rounded up to a standard term like 10, 15, 20, 25, or 30 years.
Is the calculator result a quote?
No. It's an educational estimate. A licensed agent can turn it into real quotes from multiple carriers.
Leave them a home, not a mortgage.
It takes about 2 minutes to see your options. It's free, and you're never obligated to buy anything.
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