# Coverage Gap Calculator | Lighthouse Legacy Strategies

> A one minute check on whether your life insurance covers what your family would need. Compares an estimated need against what you already carry.

Canonical page: https://lighthouselegacystrategies.com/financial-tools/life-insurance-gap-calculator

# Are you underinsured without realizing it, in about 1 minute

Faster than the full needs calculator and built for one question: is there a gap between what you carry and what the household would need.

Want help understanding your results?

## What this assumes

- Need is estimated as ten years of income, plus the mortgage, plus other debts, plus a per-dependent allowance for education and care.

- Employer coverage is counted in full here, even though it often ends with the job.

## Reading your result

### What this calculated

A quick estimate of need against the coverage you already hold.

### Why the number matters

A gap is easy to carry for years without noticing, because nothing about it shows up until it is needed.

### What could change it

Leaving a job takes employer coverage with it. Paying down the mortgage shrinks the need. Both move the number.

### Reasonable next steps

If the gap is large, the full needs calculator breaks it down by purpose. If it is small, it may already be handled.

This tool is educational and does not provide financial, investment, tax, legal or insurance advice. Results are estimates based only on the information you enter and the assumptions shown, they are not a quote, an offer of coverage or a promise of any outcome, and your actual situation will differ. Insurance guarantees are backed by the claims paying ability of the issuing insurance company. Speak with a licensed professional before acting on anything you see here.

## Other tools worth two minutes

## Numbers are a start. A conversation is the next step.

Bring what this gave you. I will tell you what it misses, what it gets right, and what is actually worth doing about it.

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Lighthouse Legacy Strategies, the independent insurance practice of Sharon Donovan, a licensed life insurance and annuity agent in Arkansas, Missouri and Texas, based in Little Rock, Arkansas. Retirement income planning, annuities, life insurance and IUL with living benefits, final expense and mortgage protection.

Sharon Donovan (501) 516-9456 (call or text), sharon.donovan@wealthwave.com. By appointment, including evenings. Most consultations happen by phone or video.

Important disclosures: Lighthouse Legacy Strategies is an independent insurance practice. Sharon Donovan is a licensed insurance agent (NPN 18170848) in Arkansas, Missouri and Texas. This website is for educational purposes only and is not financial, tax, legal or investment advice. Guarantees are backed by the claims-paying ability of the issuing insurance company. Policy loans and withdrawals reduce cash value and death benefits. Not affiliated with any government agency. Full set: https://lighthouselegacystrategies.com/disclosures

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