Michael Fox — Licensed Insurance Advisor
Michael Fox Insurance
Phone: 856-676-9358
Email: michaelfox13@gmail.com
michaelfoxinsurance.online
Life Insurance Coverage Calculator
Printed June 18, 2026
How much life insurance do I actually need?
Most people guess. This calculator uses the same DIME-plus method independent brokers use — income replacement, debts, education, and final expenses — minus what your family already has covered.
Pre-tax. Use combined income if you're the household's primary earner.
Common rule: 10× income. Younger families often choose 15–20 years.
Cards, auto, student, business
Funeral, estate settlement, medical bills not covered by insurance.
What your family already has
Suggested coverage
$1,315,000
Estimated term-life premium: ~$105/month
Turn your estimate into real numbers
Send Michael your numbers and he'll come back with actual quotes from the carriers most likely to price you best — usually within one business day, no obligation.
Important — coverage estimate, not a recommendation
Coverage amounts shown here are produced by a general needs-analysis formula and are intended only as a starting point for conversation. They do not account for the full picture of your assets, debts, business interests, estate plan, dependents' specific needs, tax situation, existing coverage, or long-term goals. This is not a quote, an offer of insurance, or individualized financial, tax, or legal advice. A complete coverage recommendation requires a personal review with a licensed professional and underwriting by an issuing carrier.