This calculator will help you determine how much life insurance you may need to provide adequate resources for your family or beneficiaries after your death.
How Much Life Insurance Do I Need?
Income Needs
What is your current income?
How many years will your spouse need your annual income?
1 Year
2 Years
3 Years
4 Years
5 Years
6 Years
7 Years
8 Years
9 Years
10 Years
15 Years
20 Years
25 Years
30 Years
Immediate Cash Needs
Primary mortgage:
Other liabilities (loan balances, etc.):
Education and accumulation goals
(average annual tuition cost is $15,000-$20,000 per year per child):
Final expenses (medical, funeral, taxes):
Available Assets
Existing life insurance:
Annuities or fixed assets:
401(k) or IRA:
Other available assets
(any assets that can be converted to cash within 3 months)*:
Income Sources
Spouse's income:
Years income expected:
1 Year
2 Years
3 Years
4 Years
5 Years
6 Years
7 Years
8 Years
9 Years
10 Years
15 Years
20 Years
25 Years
30 Years
Social Security income:
Years income expected:
1 Year
2 Years
3 Years
4 Years
5 Years
6 Years
7 Years
8 Years
9 Years
10 Years
15 Years
20 Years
25 Years
30 Years
Other income (trusts, pensions, etc.):
Years income expected:
1 Year
2 Years
3 Years
4 Years
5 Years
6 Years
7 Years
8 Years
9 Years
10 Years
15 Years
20 Years
25 Years
30 Years
Additional Recommended Life Insurance:
*We recommend that you not liquidate retirement accounts due to tax penalties.