Life Insurance Calculator

Step 1. Evaluate Your Income and Assets

What is your current income?

$

How many years will your spouse need your annual income?

1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 15 Years 20 Years 25 Years 30 Years

Current investment income (Rental Properties, Dividends, Annuities, etc.)

$

Existing liquid assets - All assets that can be turned into cash within 3 months (We recommend you not liquidate retirement accounts due to tax penalties)

$

The amount of your existing life insurance coverage:

$

Step 2. Evaluate Your Debts and Expenses

Outstanding mortgage balance:

$

Outstanding loans:

$

Final expenses: (Medical, Funeral, Taxes)

$

Step 3. Evaluate Your Child Support and College Expenses

*We suggest an average annual tuition cost of $15000 - $20000 per year

Additional Recommended Life Insurance: $