Bailey Insurance Agency, independent insurance agents in Garner and Clayton, NC
919-589-7580

How much life insurance does your family actually need?

Answer six short questions and get an estimate built the way an agent would build it: what your family would need to replace, minus what you already have. No login, no premium guesswork, about two minutes.

About you

This sets the biggest number: the income your family would need to replace.

Enter an age between 18 and 85.
Include salary, self-employment and any regular side income.
Enter your annual income (0 is fine if you don't earn income).
Many families choose enough years to get the youngest child through school.

Common questions about life insurance coverage

How much life insurance do I need?

A common approach is to add up the income your family would need to replace, your debts and final expenses, future education costs, and anything you want to leave behind, then subtract savings and existing coverage. That's exactly what this calculator does. A rule of thumb like "10 times your income" skips the debts and the assets, so it's usually too high or too low.

Is this a life insurance quote?

No. It estimates how much coverage you may need. What a policy costs depends on your age, health, the type of policy and the term length. Bailey Insurance Agency is an independent agency, so we compare quotes from multiple carriers and show you the options side by side.

Does life insurance through my job count?

Yes, include it in the "what you already have" step. Employer coverage is typically one or two times your salary and ends when you leave the job, so many families carry an individual term policy alongside it.

Term or whole life?

Term life covers a set number of years, usually 10 to 30, and is the least expensive way to cover a large need like raising kids and paying off a mortgage. Whole life lasts your whole life and builds cash value, at a higher premium. Many families use term for the big years and a smaller permanent policy for final expenses. An agent can walk you through both.