Family life-cover gap

Life cover is easier to size by responsibility than by a round number. This tool adds up what your family would still carry if income stopped — the mortgage, several years of living costs, an education goal — then subtracts the assets and existing cover you already have. What is left is the gap. It sizes the need without recommending any product.

Result

Working backward from responsibility: mortgage 80,000 + 8 years of living costs 144,000 + education 30,000, for a total responsibility of 254,000. Subtract usable assets 50,000 and existing cover 60,000, and the life-cover gap still to fill is 144,000.

Total responsibility: 254,000
Less assets & existing cover: 110,000
Life-cover gap: 144,000

What the total responsibility is made of: mortgage, years of living costs, and the education goal.

A sizing estimate from your inputs, not an insurance recommendation.

Assumptions & limits

This is the responsibility method, not a product pick. Check the term, beneficiary and health disclosures on any cover you already hold before buying more.