Calculate Your Life Insurance Needs

Life Insurance Needs
Existing Coverage
Assets & Income
Liabilities & Expenses
Coverage Needed
Life Insurance Needed
Current Insurance Insurance Needed
Insurance Amounts
Itemized Investments
Investment Category Amount
Total Investments

Close
Itemized Non-Income Assets
Non-Income Asset Category Amount
Total Non-Income Assets

Close
Itemized Monthly Expenses
Monthly Expense Category Amount
Total Monthly Expenses

Close
Itemized Liabilities
Liability Category Amount
Total liabilities

Close
Itemized Death Expenses
Death Expense Category Amount
Total Death Expenses

Close

The purpose of life insurance is to replace your income at the time of your death so that the family you are leaving behind can maintain their current lifestyle. How much you need is best decided by working with a qualified financial planner. Things to analyze include your current assets, savings and investments and how much earning power will be available for supporting your family in your absence. Compare that amount to your anticipated liabilities and expenses. Moreover, don't forget to include items such as college tuition for your children or paying off your mortgage, in addition to your standard living expenses.