How much life insurance do you need?

How much life insurance do you need? Enter your current assets, expenses, income and let us determine how much life insurance you need. You can also adjust the inflation rate and your expected rate of return to see how these variables can impact your insurance needs. Press the report button to see a year by year breakdown of your families future income and expenses.

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Cash and savings Total you have in cash, checking accounts, savings accounts or other accounts that can be used to help cover expenses
Home equity Total amount of equity in your home that you are willing to use toward your living expenses
Investments Total value of all investments that you are willing to use toward your living expenses
Other Any other assets that you may be willing to sell or liquidate
Estate or inheritance taxes on assets Percent taxes that are required to be paid on total assets
Probate costs Probate costs cover a states legal fees for disbursing the assets of the deceased. You may incur significant probate costs, depending on your state of residence, even if you have a will.
Funeral costs All costs required to cover the cost of the funeral
Uninsured medical costs Any medical costs that are not covered by your medical insurance. Make sure to include any deductibles
Debt repayment Credit card debt, auto loans, home equity loans, mortgages or other debt that you wish to repay. Providing the ability to repay these loans if you were to die can significantly help your family meet its monthly living expenses
College fund for children Amounts you wish to provide your surviving children to cover future college expenses
Spouse income from work Income expected from your spouse after your death. If your spouse needs education or retraining, make user that the starting year for this income provides adequate time to complete
Social security survivor benefits Depending on your work history, your family may qualify for social security benefits.
Living expenses with children at home Total monthly expenses while your children are living at home. This should include all monthly expenses except child care
Living expenses with children gone Total monthly expenses after your children have left home. This should include all monthly expenses
Childrens college expenses Monthly expenses for your children's college expenses. If your children have not yet entered college, leave this amount at zero and enter an amount in the college fund entry fields in the total expenses at death section
Retraining and education for spouse Monthly expenses expected to cover any cost of education or retraining for your spouse to re-enter the workforce
Other expenses Any other monthly expenses not included above
Combined federal and state tax rate This is your effective tax rate. To calculate this rate take your total income for last year divided by your total federal and state taxes paid

information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.


*These materials are not an offer to sell or solicitation of an offer to buy any security, nor shall any such security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.


(1) A broker-dealer, investment advisor, BD agent or IA rep may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if they are excluded or exempted from the state's broker-dealer, investment advisor, BD agent or IA rep requirements, as the case may be; and
(2) Follow-up, individualized responses to consumers in a particular state by broker-dealer, investment advisor, BD agent or IA rep that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's broker-dealer, investment advisor, BD agent or IA rep requirements, or pursuant to an applicable state exemption or exclusion. (3) For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA rep, a consumer should contact his or her state securities law administrator.