Is the life-insurance result a recommendation to buy that amount?
No. It is an educational coverage-gap model based on the needs, debts, goals, assets and existing coverage you enter.
Family money tools
Family money calculators for emergency savings, college, insurance, budgeting and net worth.
Family planning is rarely one account or one product. Start with cash flow and emergency reserves, understand the household balance sheet, then model longer-term goals such as college funding and survivor protection.
Run the numbers
Budget Calculator
Compare entered monthly income, spending, and saving amounts to see what is allocated and what remains unallocated or over budget.
Run calculatorEmergency Fund Calculator
Build an emergency-fund target from entered essential monthly expenses and the number of months of coverage you choose.
Run calculatorNet Worth Calculator
Add your entered assets and liabilities to calculate net worth and see the balance between what you own and what you owe.
Run calculator529 College Savings Calculator
Project a 529 balance, future college costs, and the modeled monthly contribution needed to close a funding gap.
Run calculatorLife Insurance Needs Calculator
Estimate a life-insurance coverage gap using survivor-support needs, debts, family goals, existing coverage, and available assets.
Run calculator Questions these tools answer
How many months of essential spending does my emergency fund cover?
What is the household net worth from the assets and liabilities I enter?
What monthly 529 contribution closes the modeled gap to a future college-cost target?
How large is the modeled life-insurance gap after existing coverage and available assets?
A better sequence
Use the tools as one decision, not six isolated calculators.
- 1
Build the monthly budget and emergency-fund baseline first so longer-term contributions do not ignore near-term liquidity.
- 2
Use net worth to see the balance sheet without treating home equity or retirement assets as automatically spendable cash.
- 3
Model education and insurance goals with explicit assumptions, then revisit them after major family, income or housing changes.
FAQ
What to know before relying on the output.
Does the 529 calculator guarantee college costs or returns?
No. Both future education costs and investment returns are assumptions. The tool is designed so you can change them and see the effect.
What should I update after a major family change?
Beneficiaries, insurance, emergency reserves, estate documents, childcare or education goals and the household budget are common review points. MFA's Life Events section organizes the checklist.
Keep going
MFA tools are educational estimates, not financial, investment, tax, legal, insurance, lending or underwriting advice. Inputs, rules, rates and personal circumstances can change the result. Review the source and methodology notes on the relevant tool.