Life Insurance Calculator - How Much Life Insurance Do I Need?

How much life insurance do I need?

As a caregiver, you want to ensure that the financial needs of your loves ones will be met. One of the primary ways to do this is by purchasing a life insurance policy. This creates a sound financial plan for your family and is often a fundamental step to help them meet future financial needs.

Age, Income and Assumptions

Current annual income ($)

Spouse's annual income (if applicable) ($)

Spouse's current age (if applicable) (0 to 100)

Spouse's desired retirement age (if applicable) (0 to 100)

Investment return (-12% to 12%)

Anticipated inflation rate (0% to 10%) help

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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 (1 to 70)

College needs ($) help

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Available Resources

Investment assets ($)

Existing life insurance ($)

Include Social Security benefits? help

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Age of oldest child under 18 (0 to 17)

Age of second child under 18 (0 to 17)

Age of third child under 18 (0 to 17)

Age of fourth child under 18 (0 to 17)

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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