Life insurance
Is Life Insurance Through Work Enough? What Group Cover Leaves Out
Group life insurance through work is a useful start, but it is often modest and can end when you leave. How to check if yours is enough.
Topics
Life insurance
Life insurance is about one question: if your income or your care stopped tomorrow, what would the people who rely on you need? These guides help you put a number on it.
Life insurance
Life Insurance for a Stay-at-Home Parent: How Much Is Enough?
A stay-at-home parent earns no paycheck, but replacing their care costs real money. Here is how to put a number on it and size the cover.
Life insurance
Term vs Whole Life Insurance: Which One Fits Your Need?
Term vs whole life insurance explained: what each costs, how cash value works, and why the size and length of your need usually decides it.
Life insurance
How Much Life Insurance Do I Need? The DIME Method Explained
Use the DIME method to estimate life insurance: add debts, income, mortgage and education, then subtract the cover and savings you already have.
More calculators
Life insurance
How much would your family need?
Imputed income calculator for group life
Calculate the taxable imputed income on employer group-term life insurance over $50,000, using the IRS Table 2-2 rates. Free, with a worked example.
Term life length calculator
How many years of term life insurance do you need? Match the term to your kids' ages and mortgage, and see when two layered policies make sense.
Stay-at-home parent value calculator
What would it cost to replace a stay-at-home parent's care? Add local childcare, transport and household help to size their life insurance.
Final expense calculator
Add up funeral, burial or cremation, medical bills, legal costs and debts, subtract what is set aside, and see how much final expense cover you need.
Questions people ask
Where should I start with life insurance?
Start by estimating how much your family would need with the DIME method, then decide how long the cover must last and which type fits. The guides on this page follow that order.
What is the difference between term and permanent life insurance?
Term covers a set number of years at a low price and has no savings part. Permanent insurance, such as whole life, lasts for life and builds cash value, so it costs much more for the same death benefit.
Do I need life insurance if I am single with no children?
Often you need little or none, unless someone else depends on your income, you have co-signed debts, or you want to cover final expenses. A quick needs calculation will show it.
How often should I review my life insurance?
Every few years and after big changes: marriage, a new child, a new home, a large raise, a divorce or paying off a major debt.
Does Coverlee recommend specific life insurers?
No. Coverlee does not sell insurance or recommend companies. Our guides explain how to size and choose coverage so you can compare quotes from licensed agents.