LIFE INSURANCE GAP CALCULATOR
Is your family properly protected?
10 questions. 2 minutes. Free. No obligation.
Question 1 of 10
Question 1 of 10
Do you currently have life insurance?
Life insurance is the financial safety net for the people who depend on you. Without it, your family's financial security depends entirely on you never dying — which is not a plan.
Question 2 of 10
Does anyone depend on your income?
A spouse, children, aging parents, or anyone whose financial stability would be disrupted by your death qualifies as a dependent for life insurance purposes.
Question 3 of 10
If you died tomorrow, how long could your family maintain their current lifestyle without your income?
This is the core question of life insurance need. The answer determines how much coverage you actually need — not a rough guess.
Question 4 of 10
Do you have a mortgage or other significant debt?
When you die, your debts don't disappear. Your family inherits your mortgage, car payments, and other obligations. Life insurance should cover these in addition to income replacement.
Question 5 of 10
Is your life insurance through your employer?
Employer-provided life insurance is not portable. It disappears the day you leave — by choice, layoff, disability, or retirement. Many people discover this gap at exactly the wrong moment.
Question 6 of 10
Do you know how much life insurance coverage you have?
Most people either have no idea what their coverage amount is, or have a vague sense that it's "enough." Neither is acceptable when your family's financial security is at stake.
Question 7 of 10
Do you own a business?
Business owners have additional life insurance needs — key person insurance to protect the business, and buy-sell agreements to protect your partners and your family's stake in the business.
Question 8 of 10
Do you have children under 18?
Children create a specific life insurance need — coverage must last until they're financially independent, which can be 18-25 years away. This directly affects how much coverage you need.
Question 9 of 10
What type of life insurance do you have?
Term life covers you for a specific period — usually the years your family needs you most. Whole life and universal life are permanent policies that also build cash value. Both have their place.
Question 10 of 10
When did you last review your life insurance coverage?
Marriage, divorce, new children, a home purchase, a raise, or a new business all change your life insurance needs. A policy bought 5 years ago may be significantly inadequate today.
YOUR LIFE INSURANCE GAP SCORE
0
out of 100 — higher score = more gaps
WHAT WE FOUND
This assessment is for informational purposes only and does not constitute insurance advice. Life insurance needs vary significantly by individual situation, income, debt, and family structure. Contact Myers Insurance Group for a personalized life insurance evaluation.