Life Insurance Needs Calculator
Size a policy using the debt, income, mortgage and education method.
How this number is built
Doing it by hand
Step 1
Decide how many years your household would need the income replaced.
Step 2
Add the full mortgage balance rather than the monthly payment.
Step 3
Include final expenses and any debt a survivor would inherit.
Step 4
Add realistic education costs per child.
Step 5
Subtract liquid assets and any employer coverage you would keep after leaving.
What people ask next
Is employer coverage enough?
Rarely, and it usually ends when the job ends. Treat it as a supplement rather than the plan.
Term or permanent?
Term matches a defined need such as raising children or paying off a mortgage. Permanent solves estate and lifelong-dependant problems and costs considerably more.
Searches this page answers
| Related search | Goes to |
|---|---|
| life insurance | How to Calculate Life Insurance Needs |
| insurance coverage needs | How to Calculate Life Insurance Needs |
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