Term Life Insurance 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. To calculate your coverage, select your age category and determine the multiple of coverage. Enter your multiple and your income into the calculator to determine the amount of coverage you should have.

Many persons purchase their life insurance policy with the intent to replace income, and experts recommend that you purchase 5-10 times your current annual income. This is an old rule of thumb that does not take into consideration current assets and any special needs you and your family may have. We recommend you consider the following:

• The amount of yearly income needed
• The number of years this income will be needed
• Other anticipated expenses:
  • College education expenses
  • Funeral and burial expenses
  • Retirement needs
  • Special needs for children or other family member
• The average annual percentage of interest your investments will earn
• The expected average annual rate of inflation

Use our special term life insurance calculator to estimate how much life insurance you need. Simply enter your requirements below: