Online Tool Store
Life Insurance Coverage Gap Calculator
Enter your estimated financial needs and current coverage to see the gap between what your dependents would need and what's already covered. Runs entirely in your browser.
🔒 This tool runs entirely in your browser. Your files are never uploaded to a server.
Example
Life Insurance Coverage Gap Calculator
- Financial needs
- $650,000
- Current coverage
- $250,000
Example shown — replace it with your own figures.
Result
How it works
- Estimate your dependents' total financial needs.
- Enter your current life insurance coverage.
- See the coverage gap between the two instantly.
The formula
The gap is simply the shortfall between what's needed and what's already covered:
Coverage gap = Financial needs − Current coverage
FAQ
How is "financial needs" calculated?
It's a rough estimate of what your dependents would need — often based on outstanding debt, income replacement years, and future expenses like education.
Does this include existing employer coverage?
Yes — enter all current coverage you have, including any employer-provided group life policy, to get an accurate gap figure.
Is this financial advice?
No — this gives a general estimate to start a conversation. For an actual policy decision, talk to a licensed financial advisor or insurance agent.
How we compare
| Feature | Online Tool Store | Insurance agent needs analysis | Guessing a round number |
|---|---|---|---|
| No appointment needed | Yes | No | Yes |
| Based on your actual numbers | Yes | Yes | No |
| Free to use | Yes | Free (with sales pitch) | Free |
For a first-pass estimate before talking to an agent, this gives you a starting number grounded in your own figures.