Life insurance debt calculator
Just the debts. No income replacement in this one.
Some people don't want a full needs analysis. They want one thing: nobody inherits the debt.
This calculates that narrower number — what it would take to clear your obligations and settle the estate.
Debt payoff coverage
- Debt coverage gap
- $216,000
- Total obligations
- $316,000
- Secured debt
- $268,000
- Unsecured debt
- $33,000
What it would take to clear these obligations, beyond the coverage you already have.
Secured $268,000 + unsecured $33,000 + final expenses $15,000
Tied to an asset that could be sold — though selling may not be what your family wants.
Treatment varies. Federal student loans are often discharged at death; private loans and co-signed debt frequently are not.
This covers debts only. It deliberately excludes income replacement — if your household would also lose your earnings, the full needs calculator is the better starting point.
Not all debt behaves the same
Secured debt is tied to an asset that could be sold, though selling may be the last thing your family wants. Unsecured debt varies more than people expect — federal student loans are often discharged at death, while private and co-signed loans frequently are not.
- Check whether your student loans are federal or private
- Check whether anyone co-signed anything
- Ask whether business debt was personally guaranteed
Estate settlement isn't free
Probate, legal, and administrative costs land on top of the debts themselves. Leaving them out understates the figure.
This is the floor, not the answer
Clearing debt keeps your family out of a hole. It doesn't replace income. If they'd also lose your earnings, the needs calculator is the better tool.
Turn this into a real number
A calculator works with the figures you give it. A licensed insurance professional can tell you what’s actually available to you and what it would cost.
This tool performs arithmetic on the figures you enter. It does not estimate premiums, predict approval, or account for your state’s rules. Quote My Policy LLC is a licensed insurance producer.