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HOW MUCH LIFE INSURANCE DO I NEED?
Needs
Assets
Final Expenses
(1)
Cash
(4)
Debts
Investments
(4)
Special Needs
(2)
Retirement
(4)
Housing
Life Insurance
Income
(3)
Other
Balance Sheet
Total Needs
Total Assets
Additional Dollars Needed
Income Calculator (assumes 4% cost of living increase per year)
Current
Annual
Income
Years Until Retirement
10
20
30
40
$20,000
$229,605
$443,822
$664,868
$896,020
$30,000
$344,407
$665,734
$997,302
$1,344,031
$40,000
$459,210
$887,645
$1,329,736
$1,792,041
$50,000
$574,012
$1,109,556
$1,662,170
$2,240,051
$60,000
$688,815
$1,331,467
$1,994,604
$2,688,061
$70,000
$803,617
$1,553,379
$2,327,038
$3,136,071
$80,000
$918,420
$1,775,290
$2,659,472
$3,584,082
$90,000
$1,033,222
$1,997,201
$2,991,906
$4,032,092
$100,000
$1,148,024
$2,219,112
$3,324,340
$4,480,102
$110,000
$1,262,827
$2,441,024
$3,656,774
$4,928,112
$120,000
$1,377,629
$2,662,935
$3,989,208
$5,376,122
$130,000
$1,492,432
$2,884,846
$4,321,642
$5,824,133
$140,000
$1,607,234
$3,106,757
$4,654,076
$6,272,143
$150,000
$1,722,037
$3,328,668
$4,986,510
$6,720,153
(1) $5,000 - $10,000 is recommended to cover Funeral & Medical Expenses.
(2) Include expected future debts like day care and education expenses.
(3) Refer to the Income Calculator above
(4) Indicate Cash, Investment Holdings and Retirement plan values as of today.
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Final Expenses
Cash
Debts
Investments
Special Needs
Retirement
Housing
Life Insurance
Income
Other Assets
Total Needs
Total Assets
Additional Life Insurance Needed