The Value of Your Future Earnings
People take out life insurance policies to financially protect their loved ones if something were to happen to them.
The question, though, is how do you determine how much of a policy do you need to adequately take care of your family after you are gone? An easy way to figure that out is to estimate the money you would earn between now and the date of your retirement. The present value of your earnings represents the amount you would need today to replace all of your future earnings, giving you an adequate idea of how much your family would 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.