A hard question with a plain answer. Work it out once, then you can stop carrying it.
What your family would need
Cards, car loans, student loans — everything except the mortgage.
What it would take to pay the house off.
Often your take-home pay, or what the house needs to keep running.
A common choice: until your youngest is on their own.
College or trade school for the kids, in today’s dollars.
What’s already in place
Term policies plus coverage through work. Work coverage usually ends when the job does.
What your family could actually draw on. Leave out the emergency fund if it’s spoken for.
Coverage gap
$37,100
Estimated need $37,100 · In place $0
That’s the gap between what your family would need and what’s in place today. Term life is usually the least expensive way to close a gap like this. An independent agent can price it across several companies, so you’re comparing, not being sold.
Next step · Clear
Debt Payoff PlannerEvery dollar of debt cleared is a dollar less your family would need.
