Life Insurance Calculator
It is important to make sure you have enough life insurance
for all of your needs and our life insurance calculator will
aid you in determining the proper amount of coverage for you.
- Enter numbers by clicking on the number in the box on
the right and type your number (no commas).
- • The results of your calculations show in the box
in the middle of the calculator.
Expenses Final Expenses
Considering that an average funeral can cost more than $10,000,
determine the total amount of one-time expenses that you will
have upon your death and enter that amount here.
Mortgage
If you hold any mortgages with outstanding balances you should
enter the total amount here in order to make sure you have
enough insurance to pay them off.
Other Debts
You can use this box to enter the total amount of any outstanding
credit card balances, car loans and other debts that you may
have.
College Savings
If you have children and expect to pay for their college education
enter that amount here.
Living Expenses
Simply enter the yearly amount of money that your family needs
for daily living expense. This does not include mortgages,
college savings or other debts that you have already entered
above.
Income Spouse Income
You should enter the annual income that your surviving spouse
expects to earn after your death. Remember to consider that
your spouse may need to decrease or quit working to care for
children.
Other Income
If your family will receive income from any investments or
other income-generating assets you should enter the total
annual income here.
Existing Insurance
If you currently have life insurance, enter the cash value
of your insurance at the time of your death.
Years of Need
Determine the number of years that your life insurance will
need to provide for your family. This is usually the number
of years until all of your children become self-sufficient.
Results Our results will show
you if additional insurance is needed based on the information
you’ve provided about your current coverage and anticipated
expenses.
Graph Our pie chart displays
uncovered amounts in red and covered amounts in blue. It also
allows you to move your cursor over the chart for a fast and
easy to understand readout of the results.
Click
Here to open the Life Insurance Calculator |
