Choosing the right life insurance coverage is essential for safeguarding your family’s financial future. Our Life Insurance Needs Calculator helps you estimate the coverage required by considering key financial factors like income replacement, debts, education costs, and final expenses.
Overview: calculate insurance needs
Why Income Replacement Matters
Replacing 10–20 years of income ensures your family can maintain their lifestyle and financial stability after your passing. This extended period provides time to grieve, adjust, and plan for the future without financial strain.
Including Non-Working Partner Contributions
Stay-at-home parents provide essential services like childcare and household management. Assigning an economic value to these contributions ensures comprehensive coverage for their role.
Covering Debts and Financial Obligations
Outstanding debts such as mortgages, car loans, or credit cards don’t disappear upon death. Including these in your coverage prevents your family from facing unexpected financial burdens.
Planning for Children’s Education
Incorporating future education costs into your policy ensures your children’s academic goals remain achievable, even in your absence.
Factoring in Final Expenses
End-of-life costs like funerals can create immediate financial stress. Including these ensures your family won’t need to deplete savings or borrow funds during a difficult time.
How the Calculator Works
Input details like income, debts, and future expenses. The calculator provides a suggested coverage amount tailored to your unique circumstances.