How much life coverage is needed

Life insurance need: family income × years + obligations − assets

Parameters

Yearly income to replace, UAH

Years of family support

Debts (mortgage, loans), UAH

Kids' education, UAH

Liquid assets, UAH

Existing coverage, UAH

Result

Coverage needed4,300,000 ₴

Income × years: 3,600,000 ₴+ debts + education − assets − existing

Rule of thumb: 10–15× yearly income. More precisely — DIME: Debts + Income×years + Mortgage + Education. Term insurance is 5–10× cheaper than whole-life and is the standard for family protection; whole-life is a hybrid product with low yield.

About Life coverage

Life coverage — how much life coverage is needed: income × years + debts − assets. Finance: debt payoff, loan vs savings, bank fees, splitter, child costs, cashback, life insurance, terms. Use our tools without registration or installing software. All calculations happen in your browser — your data is never sent to a server.