Free Insurance Gap Analysis Calculator
Identify coverage gaps by comparing your total insurable risk against your current insurance protection.
Life Insurance Gap
$250,000
Life Insurance Gap vs Total Assets at Risk
Insurance Gap Analysis
A gap analysis compares what you NEED versus what you HAVE.
Steps
1. Identify risks: Death, disability, property loss, liability 2. Quantify each risk: How much would each event cost? 3. Inventory current coverage: List all existing policies and limits 4. Calculate gaps: Need minus current coverage
Coverage Ratio
Coverage Ratio = Total Current Coverage / Total Coverage Needed x 100%
Aim for 100% or higher across all categories.
Example Calculation
$600,000 assets, $500,000 income protection needed, $250,000 life insurance, $350,000 property coverage.
- 01Life insurance gap = $500,000 - $250,000 = $250,000
- 02Property gap = $600,000 - $350,000 = $250,000
- 03Total gap = $250,000 + $250,000 = $500,000
- 04Coverage ratio = ($250,000 + $350,000) / ($500,000 + $600,000) = 55%
Frequently Asked Questions
Learn More
How to Calculate Mortgage Payments
Learn how to calculate mortgage payments step by step. Understand the mortgage payment formula, principal vs. interest breakdown, escrow, PMI, and how to use amortization schedules.