How much life insurance do you need?
Enter your current assets, expenses, income and let us determine how much life insurance would be right for you. You can also adjust the inflation rate and your expected rate of return to see how these variables can impact your insurance needs.
Press the "view report" button to see a year by year breakdown of your family's future income and expenses.
Some of us have too much life insurance and many more of us don't have any, or not enough.
Life Insurance is mainly used for Income Protection (loss of income due to death). No one should be without it. At any age, you should consider your individual circumstances and standard of living you wish to maintain for your dependents.
Before buying Life Insurance, make sure you understand the basics of Life Insurance and all of the different types available such as: Term, Whole Life, Universal Life, and Variable Life. Then make sure that the agent you are dealing with has your best interest in mind instead of just being commission oriented.
You can purchase guaranteed level term for 10,20, or 30 years at a pretty low price.
There is a wealth of information available on all of these types of insurance products in our Financial Directory of Resources including where to buy it and how much it costs.
This calculator will give you a pretty good idea of how much Life Insurance you really need. Reading the definitions is very important. You will need to refer to your Net Worth Statement and your Home Budget Analysis for some of the information. It is a real eye opener and worth your time to consider.