Life Insurance Needs Analysis
Use this free calculator to estimate how much life insurance coverage you need to protect your family's financial future
Financial Information
Your current gross annual salary before taxes
Replace income until your youngest child turns 18 or spouse reaches retirement
Outstanding mortgage, credit cards, loans, and other debts to pay off
Estimated college costs for children (about $25-50k per child)
Funeral, burial, legal fees, and immediate family support costs
Current life insurance, savings, investments, and retirement accounts
Recommended Coverage
$
0
Total Life Insurance Needed
Calculation Breakdown
Income Replacement:
$0
Debts & Mortgage:
$0
Education Costs:
$0
Final Expenses:
$0
Total Needs:
$0
Minus Existing Assets:
-$0
Coverage Needed:
$0
Tips
- Review your coverage annually or after major life events
- Consider term life insurance for temporary needs and whole life for permanent coverage
- Factor in inflation when planning long-term needs
- Don't forget to include spousal coverage if applicable