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Life Ins Calculator

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Calculate The Approximate Amount of Life
Insurance You'll Need

Step One) Evaluate Your Current Assets and Income

Fill in your present income

$

No. of years spouse will require your annual income

 

Your investment income (annuities, rental properties, dividends etcetera)

$

Current, liquid assets - assets that can be cashed out within a three month period
(We recommend you not liquidate retirement accounts because of IRS excise tax penalties)

$

The face amount of your present life insurance policy:

$

Step Two) Evaluate All Of Your Expenses and Debts

Your outstanding mortgage balance(s):

$

Any other outstanding loans:

$

Enter your projected final expenses: (taxes, medical, funeral, etc.)

$

 

Step Three) Projected College Expenses/ Child Support
*We recommend an average annual cost for tuition of about $15,000 to $20,000

Child: Monthly child cost: Years child will require support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Estimated Additional Life Insurance Needed: $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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