How Much Life Insurance Do I Need?

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step usually requires the purchase of a life insurance policy to ensure that your family's needs will continue to be met, even after your untimely death cuts your earnings potential short.

Age, Income and Assumptions
Your current age
Your spouse's current age
Current annual income
Spouse's annual income
Spouse's desired retirement age
Investment return: (%)
Anticipated inflation rate: (%)
Immediate Cash Needs
Funeral expenses
Final expenses
Mortgage balance
Other debts
Long-Term Income Needs
Desired annual income needs (typically 70-80% of current combined income)
Number of years income is needed
College needs
Available Resources
Investment assets
Existing life insurance
Include social security benefits?
Age of oldest child under 18
Age of second child under 18
Age of third child under 18
Age of fourth child under 18

This information may help you analyze your financial planning needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. This service shall not infer that company assumes any fiduciary duties. In addition, such service should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.