Calculate Your Needs
When calculating how much life insurance coverage you need, the outcome is unique to each person and family. That’s why our agents can work with you to customize your policy specifically to you. Not sure what factors go into estimating your coverage amount? We’re here to help. Our Life Insurance Calculator makes it easy to determine how much you need. But before you dive in, take a look at the key things to consider when determining your life insurance needs:
Calculate your expenses. Consider the cost of day-to-day needs and ongoing expenses your family could be left with.
Final expenses. Final expenses. include things like funeral, cremation, and memorial services.
Income. How much of your annual income would your loved ones need to maintain current living standards? And how many years would they need to have that extra financial support?
Add up your assets. Calculate your bank accounts, investments, real estate, retirement accounts, CDs, existing life insurance and any other assets you own that may be liquidated at the time of death to help cover expenses.
Now that you know the general guidelines for calculating your life insurance needs, head to our calculator and see how much you need and get an idea of what it might cost to protect your loved ones’ financial future.
Keep reading to better understand how much life insurance you need.