Tools & Calculators

Life Insurance Needs Calculator

80% of consumers think life insurance costs more than it does.* Providing for your family’s future is all about developing a proactive strategy to help ensure they are taken care of should something happen to you. We believe that one of the most important parts of this strategy includes having the appropriate amount and type of life insurance. Without it, everything you've worked for could be at risk. So how much life insurance do you need? You can create a rough estimate using our calculator below. With this estimate as a starting point, your financial advisor can take a closer look at your needs and help you prepare for the unexpected.

Immediate Cash Needs

Future Income Needs

Assumptions

Available Funds

Immediate Needs

How much money would your family need to cover current expenses if you passed away unexpectedly? Think about things like:

  • Funeral or other final expenses
  • Mortgage, car and credit card payments
  • An "emergency fund" for family members
  • Education expenses for children or grandchildren

Future Needs

Looking into the future, if you lost your income, would your spouse or other family members have enough to cover their ongoing expenses?

Assumptions

Enter the rate of return your family would expect if they invested any life insurance proceeds. (Default at 6% per IPC)

Enter a reasonable inflation rate to expect for your family's expenses over time. (Default at 3% per IPC)

Available Funds

What existing funds could your family use if you passed away unexpectedly?

Think about:

  • Savings (stock, bonds, mutual funds, cash)
  • Retirement (401(k)s, IRAs, pensions, etc.)
  • Other (inheritances, rental property, annuities, etc.)

Find a Financial Advisor

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    Are You Covered?

    Help protect your family's financial future with life insurance.

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    When is perm better than term?

    For life insurance needs of 20 years or more, permanent insurance may be a better option.

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    Do You Have a Short-term Insurance Need?

    Term life insurance might be a better option.

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