Determine the correct size of the term life insurance policy you should purchase to protect your family.
Life Insurance Calculator
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How to Use This Calculator
Enter the income you need to replace, total debts, and future college costs, minus your current savings.
Frequently Asked Questions
Do I need to cover my mortgage?
Yes, it is highly recommended to ensure your family can stay in the home debt-free.
What is the purpose of the Life Insurance Needs Calculator?
The Life Insurance Needs Calculator prevents you from being underinsured. It sums up your debts, income replacement, and college costs to recommend a policy size.
Does the Life Insurance Needs Calculator recommend Term or Whole life?
The Life Insurance Needs Calculator only calculates the coverage *amount*. Most financial experts recommend affordable Term Life insurance over Whole Life.
Should I include my mortgage in the Life Insurance Needs Calculator?
Yes, absolutely. Entering your mortgage into the Life Insurance Needs Calculator ensures your family won’t lose their home.
Why does the Life Insurance Needs Calculator subtract my savings?
Because your family will inherit those assets! The Life Insurance Needs Calculator subtracts them to lower the amount of insurance you need to buy.