Life Insurance Calculator
This calculator helps you determine how much life insurance coverage you need to protect your loved ones and estimate premium costs based on your personal information.
Understanding Life Insurance
Life insurance provides financial protection for your dependents in the event of your death. The appropriate coverage amount and policy type depend on your financial goals, dependents, and budget.
Different policy types (term, whole, and universal) offer varying features and costs. Use this calculator to estimate your coverage needs and compare policy options.
Life Insurance Calculator
Determine how much life insurance coverage you need and estimate premium costs based on your personal situation.
Personal Information
Financial Information
Policy Preferences
Coverage Recommendation
Life Insurance Needs Analysis
Policy Type Comparison
| Policy Type | Monthly Premium | Features |
|---|---|---|
| Term Life | $0.00 |
|
| Whole Life | $0.00 |
|
| Universal Life | $0.00 |
|
* Premium estimates are for comparison purposes only and may vary based on underwriting.
Coverage Calculation Breakdown
Your recommended life insurance coverage is calculated based on the financial needs you've identified and your existing resources:
Financial Needs
- Income Replacement:$750,000.00
- Outstanding Debts:$250,000.00
- Mortgage Balance:$200,000.00
- Education Fund:$100,000.00
- Final Expenses:$15,000.00
- Total Needs:$1,315,000.00
Existing Resources
- Existing Life Insurance:$100,000.00
- Liquid Assets:$50,000.00
- Total Resources:$150,000.00
This term life insurance policy would provide your beneficiaries with$0.00 in the event of your death, ensuring they can maintain their standard of living, pay off debts, fund education expenses, and cover your final expenses.
Note: This calculator provides estimates only. For a precise quote and personalized advice, consult with a licensed insurance professional.
How to Use This Calculator
This calculator helps you make informed financial decisions by providing accurate estimates based on the information you provide. Follow these steps:
Enter Your Details
Fill in all required fields with your financial information.
Adjust Parameters
Use sliders and toggles to customize scenarios and assumptions.
View Results
Get instant calculations that update as you change inputs.
Compare Options
Try different scenarios to find the best financial solution.
Life Insurance Resources & Tips
Policy Selection Tips
- Term life insurance is best for maximum coverage at the lowest cost
- Whole life insurance provides permanent coverage with cash value growth
- Universal life insurance offers flexible premiums and death benefits
- Consider your dependents' needs and timeline when selecting policy length
- Review and update your coverage after major life events
- Compare quotes from multiple insurers before making a decision