Life Insurance Calculator

Liquid Assets: Cash and items that could be easily converted to cash, such as stocks, bonds, vacation property, personal property, etc. Do not include personal residence.

Life Insurance Coverage: Both individually owned (personal) life insurance and that provided by your employer (group).

Mortgage: Outstanding balance on loans for your primary residence, including any second mortgages or home equity loans/lines.

Other Debt: Credit card balances, automobile loans, student loans, personal loans, etc.

Final Expenses: Funeral expenses, plus unpaid bills (i.e., medical care, taxes). $10,000 is generally the minimum amount of final expenses.

Income Replacement Monthly Amount: The amount of monthly income your beneficiary(ies) would need, in your absence, to maintain current or desired standard of living.

Income Replacement Duration: Length of time (in years) that your beneficiary(ies) would need this monthly income.

Estimated Rate of Return: The rate of interest your beneficiary(ies) could reasonably expect to receive on any invested assets. 3% is a conservative rate of return, assuming a 0% rate of inflation.