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

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) (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

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

Available Resources

Investment assets ($)

Existing life insurance ($)

Include social security benefits? help

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)

Your Email Address

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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. Marquis, Inc., First Horizon Bank, and its affiliated companies do not assume any fiduciary duties and do not provide any investment advice in providing calculations. Calculations provided may differ from calculations made by other commercial or financial institutions or entities. In addition, such service should not be relied upon as the only source of information. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. Use of service is provided without warranty of any kind, either express, implied or statutory, including FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, AND ACCURACY. Use of service is entirely at the user's own risk, and user should seek professional financial and legal advice without reliance on service and calculations. Marquis, Inc., First Horizon Bank, and its affiliated companies shall not be liable for any differences in calculations with other financial institutions or entities, lost profits, lost business, losses of any kind, direct or indirect damages, punitive or consequential damages or damages of any kind arising out of the use of this service. User agrees to indemnify and hold Marquis, Inc., First Horizon Bank, and its affiliated companies harmless from any and all liabilities and costs (including attorney fees) for any improper use or violation of these terms.