How much life insurance do I need?

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step may require the purchase of a life insurance policy to ensure that your family's needs will continue to be met, even after your untimely death cuts your earnings potential short. This calculator will help you determine the amount of life insurance that is right for you.
Age, Income and Assumptions
Current annual income ($) 
Spouse's annual income (if applicable) ($) 
Spouse's current age (if applicable) 
Spouse's desired retirement age (if applicable) 
Investment return (%) 
Anticipated inflation rate (%)help
Immediate Cash Needs
Funeral expenses ($) 
Final expenses ($) 
Mortgage balance ($) 
Other debts ($) 
Long-Term Income Needs
Desired annual income needs
(typically 70-80% of current combined income) ($)		 
Number of years income is needed 
College needs ($)help
Available Resources
Investment assets ($) 
Existing life insurance ($) 
Include social security benefits?help
Age of oldest child under 18 
Age of second child under 18 
Age of third child under 18 
Age of fourth child under 18 
The results and explanations generated by this calculator may vary due to user input and assumptions. United Life Insurance Company does not guarantee the accuracy of the calculators, results, explanations, nor applicability to your specific situation. We recommend that you use this calculator as a guideline only and you ultimately seek the guidance of an experienced professional.

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