Estimate a simple income-replacement coverage gap from entered annual income, support years, and existing savings allocated to that need.
Formula
const enteredIncome = Math.max(0, Number(inputs.annualIncome || 0)); const enteredYears = Math.max(0, Number(inputs.supportYears || 0)); const enteredSavings = Math.max(0, Number(inputs.allocatedSavings || 0)); const incomeReplacementScenario = Math.round((enteredIncome * enteredYears) * 100) / 100; const modeledIncomeReplacementGap = Math.round(Math.max(0, incomeReplacementScenario - enteredSavings) * 100) / 100; return { incomeReplacementScenario, modeledIncomeReplacementGap };Annual Income to Replace ($)
50,000
Income Support Years
20
Existing Savings Allocated to This Need ($)
10,000
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With the default inputs, replacing $50,000 of annual income for 20 years produces a $1,000,000 income-replacement scenario. Subtracting $10,000 of savings allocated to that need gives a $990,000 modeled income-replacement gap.
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The estimate combines Annual Income to Replace ($), Income Support Years, Existing Savings Allocated to This Need ($) and returns Income Replacement Scenario, Modeled Income Replacement Gap.
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This calculator provides coverage estimates based on the inputs provided. It does not constitute insurance advice, a policy quote, or a binding offer. Coverage terms, exclusions, and premiums vary by carrier and jurisdiction. Consult a licensed insurance agent or broker.
Reviewed by the CalculateThis.ai editorial team. Updates: check back for latest parameters. Tools are for estimation only — verify with current provider terms.