---
title: Veteran Life Insurance Calculator | Coverfolk
url: https://coverfolk.com/jobs/veterans/calculator
updated: 2026-10-08
---

# Veteran life insurance calculator

How much coverage the family of a veteran may need, and how much your work plan leaves out.

Updated October 8, 2026[Fact checked](/editorial-standards)

Your family may be short

$775,000

Pay for 10 years**$550,000**

Mortgage**$190,000**

Car and other loans**$20,000**

Funeral (national median)**$8,300**

Minus work coverage**$0**

Minus savings**-$10,000**

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 car and other 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.

SGLI ended when you got out. VGLI and private plans are your options now.

## Common questions

How much life insurance does a veteran 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?

SGLI ended when you got out. VGLI and private plans are your options now. 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

1. [59 percent of private industry workers had access to life insurance through work (March 2026)](https://www.bls.gov/news.release/ebs2.nr0.htm)
2. [2023 NFDA General Price List Study Shows Inflation Increasing Faster than the Cost of a Funeral (NFDA)](https://content.nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral)

[Back to life insurance for veterans](/jobs/veterans)