Life Insurance Calculator

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Life Insurance Calculator

Below is a life insurance needs calculator. The life insurance calculator takes into consideration your income and cost of living and based on certain assumptions calculates an approximate amount of coverage. The coverage amount is an estimate for your beneficiary to pay off all their current and future obligations. When you have completed the needs calculation, generate a free life insurance quote to see what your premium will be for the quoted coverage. Please call us if you have any questions regarding the estimate. Our life insurance professionals will be more than happy to figure in more detail for your needs analysis.

Please use numbers only, no commas when completing fields.
Step
1. Evaluate Your Income and Assets
What is your current income?

$
How many years will your spouse need your annual income?
Current investment income (Rental Properties, Dividends, Annuities, etc.)

$
Existing liquid assets – All assets that can be turned into cash within 3 months
(We recommend you not liquidate retirement accounts due to tax penalties)

$
The
amount of your existing life insurance coverage:

$

Step 2. Evaluate Your Debts and Expenses
Outstanding mortgage balance:

$
Outstanding
loans:

$
Final
expenses: (Medical, Funeral, Taxes)

$

Step 3. Evaluate Your Child Support and College Expenses
*We suggest an average annual tuition cost of $15000 – $20000 per year
Child: Monthly child cost: Years child will require support: College expenses:
1 $
 years

2 $
 years
3 $
 years
4 $
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years


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5 $
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years


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Recommended Life Insurance Coverage Amount:
$

Enter your zip code in the field on the header of this page and click “Quote Now”. You’ll then be able to specify the Life Insurance Amount within your quote. Run the quote and see which Life Insurance company has the most affordable premium. If you have any questions regarding the amount of coverage please do not hesitate to contact us!

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