select login
  •        You are here:
  • » Home
  • »  How Much Life Insurance Do I Need?


Life Insurance Estimator



Please enter the following information, without commas or dollar signs:

All numbers are rounded to the nearest dollar.


What is your annual income?
 
Your spouse's annual income?  
Total annual income:  


Step 1:

Estimate the amount needed upon your death to cover expenses:

A. Final expenses:     % of Annual Income*
  • Medical/hospital costs
  • Funeral
  • Attorney/executor fees
  • Probate costs
B. Emergency Fund:      % of Annual Income*
  • Major home repairs
  • Auto Repairs
  • Medical Emergencies

   
C. Childrens Education
Education cost per child
For how many children?

   
D. Mortgage Balance
E. Debt Repayment
  • Auto loans
  • Home equity loan
  • Credit card balances
  • Other
Car loan
Home equity loan
Credit card #1
Credit card #2
Other balances

 

 

   
F. Annual dependent/home care expenses:     % of Annual Income*
  • Care for dependents
  • Home Maintenance
  • Food/Clothing
Total amount per year  
For how many years?  
Rate of inflation* %

 
Total Needed - Add Sections A through F:




Step 2:

Estimate the amount of existing assets:


Existing Life Insurance
 
Cash & Savings  
Other liquid assets  
Total available liquid assets & insurance:





Step 3:

Calculate Additional Life Insurance Needed


Total Cash Needs (from Step 1)
 
Minus total available assets & existing life insurance (from Step 2)  
Additional Life Insurance Needed:


     



 

*Please note: The Percent of Annual Income and Rate of Inflation assumptions are incorporated in the calculation. You may enter your own data and override these assumptions to gain an even more personalized analysis.