Quick Calculator
This "Quick Calculator" will provide you with an estimate of the amount of life insurance needed to replace a deceased wage earner's income. If you need a more precise calculation, please scroll down to our "Advanced Calculator".
Enter the annual replacement income that will be needed if the insured dies prematurely. (before-tax)	10000 15000 20000 25000 30000 35000 40000 45000 50000 55000 60000 65000 70000 75000 80000 85000 90000 95000 100000 110000 120000 130000 140000 150000 160000 170000 180000 190000 200000 225000 250000 275000 300000 325000 350000 375000 400000 425000 450000 475000 500000 750000 1000000
Enter the number of years the replacement income will be needed by dependents / beneficiaries.	5 10 15 20 25 30 35 40
Please estimate the average annual interest rate you can earn on the invested life insurance proceeds. (%)	4 % 5 % 6 % 7 % 8 % 9 % 10 % 12 %
Enter your estimate of the average annual inflation rate. (The average rate for the last 10 years has been approximately 3 %)	2 % 3 % 4 % 5 % 6 % 7 % 8 %
Click on "Compute" to calculate the amount of life insurance needed to replace a deceased's lost annual income

Advanced Calculator
Step 1. Evaluate Your Income & Assets
Your current income is?	$
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
Child: Monthly child cost: Years child will require support: College expenses: 1 $ years 2 $ years 3 $ years 4 $ years 5 $ years
Recommended Additional Life Insurance:$