Help with Life Insurance Calculator
Yearly Income Needed
Enter the amount of money, in dollars, that you would
like to provide for your beneficiaries each year. When estimating this amount, consider such needs
as college expenses.
For How Long?
Enter the number of years that you would like to provide your beneficiaries with an income.
Estimated Interest
Estimate the annual rate of return you would expect your beneficiaries to receive on your residuary.
Estimated Inflation
Estimate the annual inflation rate you expect to offset a portion of the interest.
Mortgage to Pay Off
Enter the current balance of the mortgage on your home.
Home Value
Enter the current value of your home. This number is used to offset your net worth, with the assumption that your beneficiaries will keep your home.
Other Loans/Debt
Estimate the amount of any outstanding debt that will need to be paid off.
Estimated Net Worth
Estimate the total value of your estate. Do not deduct the loans/debt payments included above, but do include the equity you have in your home.
Existing Life Insurance
Enter the amount of life insurance you currently carry. Be sure to include any mortgage or credit card life insurance that can be used to offset Mortgage to Pay Off and Other Loans/Debt listed above.
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