A coverage gap is the difference between the support your family would need and resources available after a death. A household calculation is more useful than an unsupported nationwide percentage.
Estimate ongoing support
Start with essential living costs and replacement caregiving, then subtract income that would continue. Decide how many years support is needed. Revisit assumptions as children grow or other responsibilities change.
Free, instant quotes from top providers — no spam, no pressure.
Add debts and future goals once
Include debts you intend to repay, final expenses, and education support. Avoid counting the mortgage in both a debt total and a separate mortgage line. Also adjust living costs if your plan assumes the loan is paid off.
Account for existing resources
Subtract coverage already in place and assets realistically available for the purpose. Consider access, taxes, and other commitments before treating retirement savings or property value as immediately spendable money.
Recognize review triggers
A birth, home purchase, income change, new caregiving responsibility, or change in employer benefits may alter the gap. A low income multiple alone does not prove insufficient coverage; circumstances matter.
Compare options with the calculation
Request quotes for an amount and duration that fit the need. Confirm affordability and policy conditions. A licensed professional can help examine the assumptions, but no single premium or benefit amount fits every family.
Further reading: Consumer guidance. Explore our Money 101 guides.