A common question people who are seeking Term insurance ask is: how much insurance coverage do I need?
This calculator helps you answer this question. It considers the following important factors:
Enter your actual numbers into the areas highlighted in yellow and see how much Term life insurance coverage you need.
This calculator helps you answer this question. It considers the following important factors:
- Lost income (your insurance should cover at least 2 years of your annual income)
- Your debt (your insurance should cover all your debts, such as student loan, car loan, credit loan, etc.)
- Your mortgage (your insurance should cover the remaining mortgage balance on your house)
- Your child(ren)'s education expenses (with average annual expense of $35,000 and grow at average 5% per year, 4 years' education expense could be a huge number)
Enter your actual numbers into the areas highlighted in yellow and see how much Term life insurance coverage you need.
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