What insurance does a typical family need?

Health insurance, auto and homeowners or renters, term life insurance if others depend on your income, long-term disability insurance, and a personal umbrella policy once you have assets. An emergency fund backs all of them.

How do I know if I have enough coverage?

Compare each coverage to a target: 6 months of expenses in cash, a life benefit that clears debts and replaces income, disability that replaces about 60 percent of income, and umbrella liability at least equal to your net worth.

Which gap should I close first?

Usually the emergency fund and health insurance first, then disability and life if people depend on you, then umbrella liability. Close the gaps that would cause the most financial damage soonest.

Free calculator

Insurance Needs Calculator

Answer a few questions once and get a single scorecard showing where you are covered and where you have a gap — across life insurance, disability, your emergency fund, liability protection and a health reserve.

Your household

Household annual income

$

Essential monthly expenses

$

Dependents to support

College fund per dependent

$

Mortgage balance

$

Other debt

$

What you already have

Liquid savings

$

Existing life insurance

$

Existing monthly disability benefit

$

Net worth (assets minus debts)

$

Health plan out-of-pocket maximum

$

How the insurance needs calculator works

It compares five parts of your financial safety net to a widely used target for each:

Coverage	Target used
Emergency fund	6 months of essential expenses in cash
Life insurance	Mortgage + other debt + 10× income + education fund − savings
Disability insurance	Monthly benefit equal to 60% of gross income
Liability / umbrella	At least $1M, or your net worth rounded up to the next $1M
Health reserve	Your plan's out-of-pocket maximum available in savings

Each line is scored Covered or shown with the dollar gap. The headline is how many of the five you have fully handled.

Priority order for closing gaps

Health insurance — an uninsured hospitalization is the fastest route to bankruptcy.
Emergency fund — even $1,000–$2,000 stops small shocks from becoming debt.
Disability insurance — you are far more likely to be disabled than to die during your working years.
Life insurance — essential the moment someone depends on your income.
Umbrella liability — cheap protection for everything you have built.

What this tool does not cover

Auto and homeowners/renters insurance are assumed to be in place; use the Car and Home calculators for those. Long-term care, umbrella for business activities, and estate planning need individual attention.

Insurance needs calculator FAQ

Why 10× income for life insurance here?

This tool uses a fast multiple plus your specific mortgage, debt and education numbers. For a more tailored figure, use the full Life Insurance Calculator, which runs the complete DIME method.

I'm single with no dependents. Do I still need life insurance?

Usually only enough to cover debts others co-signed and final expenses. Disability, health and an emergency fund matter far more for you.

Should retirement accounts count as my emergency fund?

No. Early withdrawals carry taxes and penalties and derail compounding. Keep the emergency fund in cash or a high-yield savings account.

Is any of this stored?

No. Every figure is calculated in your browser and nothing is sent to a server or saved.