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Life Insurance Needs Calculator

The easiest way to calculate how much life insurance to buy

$500,000

Life Insurance Coverage Needed
Life insurance proceeds at death are paid to the beneficiary in one lump sum.
This calculator is an illustration of how your loved ones could use the funds. It is meant to help determine the amount needed in a practical and easy to understand way.
I'm done, now show me how much (or little) it will cost.

How much debt do I want paid off?

Include debts like mortgage, student loans, credit cards, car loans.

$20,000

How much monthly income do my loved ones need?

The amount of my monthly paycheck is a good place to start.

$4,000

How many years do my loved ones need income?

How long it will take them to be financially stable without my income.

10 years

Life insurance proceeds at death are paid to the beneficiary in one lump sum.
This calculator is an illustration of how your loved ones could use the funds. It is meant to help determine the amount needed in a practical and easy to understand way.
I'm done, now show me how much (or little) it will cost.
First, consider which debt(s) you want erased if you died today (i.e. mortgage, student loans, etc.). Second, consider the net amount of monthly income you want to leave your family. Third, think about how many years you want that monthly income to continue.