Determine How Much Life Insurance Coverage You Need

Understanding the benefits life insurance provides is the simple part of the equation. Planning for your family’s future can seem a little complicated. Careful consideration of your personal family circumstances, financial plan, and use of our tools can help you evaluate the life insurance coverage suitable for your needs.

Evaluate Your Needs

Doing your research and gathering your personal information is the best way to assess your unique circumstances and needs for life insurance coverage.

Conduct a Capital Needs Analysis

A capital needs analysis helps to project the income you (the insured) will earn between now and retirement. In addition, it calculates your net contribution to your family's standard of living by subtracting your present value of future tax payments and living expenses from your present earnings. The net contribution is then compared with the pending needs of potential survivors, including mortgage payments, household expenses and other special expenses.

Follow this quick step guide to help you get started with this analysis.

• Evaluate your family’s current living expenses and future needs.

• Gather your personal financial information.

• Estimate what each of your family members would need to meet current and future financial obligations.

• Apply the formula below to equate life insurance needs.

Try Our Life Insurance Needs Calculator

Your age and income have a direct bearing on your life insurance needs. Generally, the younger you are, the more insurance you need to replace a loss of lifetime income for your beneficiary. For a general estimate to help you get an estimate, try our quick and simple Life Insurance Needs Calculator. This will help you get a general idea on how much life insurance coverage you should consider purchasing.

Do the Math

Try our Life Insurance Needs Calculator >>

Contact Us

IntelliQuote offers these guidelines to help you select the right amount of life insurance coverage based upon your unique financial circumstances. If at any time, during your decision-making process, you need personal assistance, please Contact Us and an IntelliQuote Life Insurance Agent can assist you

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