Insurance Needs Calculator - Insurance Support

The amount of life insurance needed is a function of each individual’s personal goals and objectives. Many insurance agents will suggest a multiple of 7 -10 times income as a general guideline for determining a life insurance amount. We believe that the “Needs Based” approach is the best method for determining the amount of insurance required to meet your family’s financial security. By using the “needs based” approach, you will assure that the correct amount of insurance is considered.

Results will appear below.

Annual replacement income needed if the insured dies prematurely(before tax):

Number of years a replacement income is needed by dependents/beneficiaries:

Estimate the average annual interest rate that you can earn on the invested life insurance proceeds:

Estimate the average annual inflation rate:

The amount of life insurance needed to replace the annual income is:

Needs Analysis