Self employed worker life insurance calculator
How much coverage the family of a self employed worker may need, and how much your work plan leaves out.
Rounded up to the nearest $25,000. A starting point, not advice.
How this works
It adds your pay for the years you pick, your mortgage, your business and car loans and $8,300 for a funeral. Then it takes away coverage you have and savings you could use. What is left is the gap.
You don't get a work plan. Any life insurance is the one you buy.
Want the full picture? Read what your family gets if you die on the job.
Common questions
How much life insurance does a self employed worker need?
A common rule is 10 years of pay plus your mortgage and debts, minus what you already have. At the BLS median pay, 10 years of pay alone is $550,000.
Is my work life insurance enough?
You don't get a work plan. Any life insurance is the one you buy. Most families need much more than 1 or 2 years of pay.
Does my job raise the price?
It can. Some insurers add a charge or ask more questions for risky work. Others treat many jobs like any other. An agent who knows your job can find the company that is fair to it.
Sources
See your price in 2 minutes
Two minutes, a few questions, and a licensed agent shows you what it really costs. No exam needed for many plans.
About 3 in 4 people guess life insurance costs more than it does. LIMRA 2026