Calculate Your Life Insurance Needs
Life insurance is meant to help your family maintain their current lifestyle by replacing your income at the time of your unfortunate death.
The amount of life insurance you will require is based on several factors, like your current assets, savings and investments, and how much earning power will be available for supporting your family in your absence. Once you compare that amount to your anticipated liabilities and expenses, then account for items such as future college tuition or paying off your mortgage, then you will have a general idea of how much life insurance you need.
The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.