Calculate life insurance

Debts
Income
Education
Funeral
Others
$
Life Insurance Calculator

Coverage amount so far

$ 0
Year(s)
Life Insurance Calculator

Coverage amount so far

$ 0
$
Life Insurance Calculator

Coverage amount so far

$ 0
Year(s)
Life Insurance Calculator

Coverage amount so far

$ 0
Life Insurance Calculator

Coverage amount so far

$0
$
Life Insurance Calculator

Coverage amount so far

$ 0
Year(s)
Life Insurance Calculator

Coverage amount so far

$ 0
$
Life Insurance Calculator

Coverage amount so far

$ 0
$
Life Insurance Calculator

Coverage amount so far

$ 0
Year(s)
Life Insurance Calculator

Coverage amount so far

$ 0
Current Policy in:
$
Life Insurance Calculator

Coverage amount so far

$ 0
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Your results

Based on the information you provided, you need a combination of term and life insurance policies.

Term life insurance
(20 years policy)
$0
Whole life insurance
$0
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Disclaimer: Your coverage needs may be lower depending on your savings, assets and retirement funds. Your coverage need may be higher if you want to provide funds for your beneficiaries to pay estate taxes. The amount of life insurance coverage you need could be less or more depending on how the surviving spouse chooses to invest the death benefit, and whether the surviving spouse chooses to work. The information in this tool should not be interpreted as legal or financial advice, or as a recommendation to buy or forgo any insurance product.

How to use our life insurance calculator

A life insurance calculator helps you buy the right amount of coverage.

To calculate how much life insurance you need, start by entering the amount of debt you currently have, and then move through each tab entering the requested information.

Although you may have to estimate some of the numbers, try to be as accurate as possible. When in doubt, err on the side of over-estimating. Here are a few statistics that can help:

  • The average funeral cost is just under $8,000.

  • The average cost of a college education, tuition alone, is between $9,400 and $37,600 each year for a four-year undergraduate degree.

  • Out-of-pocket expenses for medical care in the last year of life average $9,530, but can be much higher with a diagnosis of dementia, cancer, or heart disease.

This calculator is designed to help you get a life insurance estimate for the amount of coverage you need; it’s not a life insurance cost calculator. However, once you know how much coverage you need, you can start comparing quotes from various life insurance companies to find the best rate.

How to calculate your life insurance premium

Calculating life insurance premiums isn’t simple. There are a lot of factors that go into how much you pay for life insurance. How much coverage you’re buying is just one of them. Then, there’s the type of policy you choose. If you’re comparing term vs. whole life insurance , you’ll find term life is more affordable. The longer the term, however, the more you’ll pay.

In addition, these factors affect the cost of life insurance:

  • Age and gender
  • Health
  • Family medical history
  • Lifestyle factors like smoking
  • Hobbies and occupations that are risky

Armed with a solid understanding of how much coverage you need, you can start shopping around and comparing life insurance quotes to find the best life insurance for your needs.

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