How much Life Insurance do you need?

Calculating the amount of coverage that you and your family need is an important part of buying life insurance. Most financial planners will recommend 5-10 times your annual income. The SecureLife needs analysis calculator is an easy-to-use tool that can help you purchase the right amount, however, this life insurance calculator should be used only as a guide.

Please use numbers only, no commas when completing fields.

Step 1. Evaluate Your Income and Assets

What is your current income? $
How many years will your spouse need your annual income?
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
Child: Monthly child cost: Years child will require support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

 Additional Recommended Life Insurance: $