Term Life Insurance Calculator

Assuming term life insurance makes the most sense for your family, how much do you need? Most people calculate their life insurance needs based on the income they would need to replace if they died unexpectedly.

In addition to your income, please consider your assets, debts, future childcare costs, and final expenses. You should secure enough term life insurance to help with these expenses as well.

Please use this calculator to get an idea of how much term life insurance coverage you might need.

How much Life Insurance do you need?
Step 1. Evaluate Your Income and Assets
What is your current income?	$
How many years will your spouse need your annual income?	1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 15 Years 20 Years 25 Years 30 Years
Current investment income (Rental Properties, Dividends, Annuities, etc.)	$
Existing liquid assets - All assets that can be turned into cash within 3 months (We recommend you not liquidate retirement accounts due to tax penalties)	$
The amount of your existing life insurance coverage:	$
Step 2. Evaluate Your Debts and Expenses
Outstanding mortgage balance:	$
Outstanding loans:	$
Final expenses: (Medical, Funeral, Taxes)	$
Step 3. Evaluate Your Child Support and College Expenses *We suggest an average annual tuition cost of $15,000 - $20,000 per year
Child: Monthly child cost: Years child will require support: College expenses: 1 $ years 2 $ years 3 $ years 4 $ years 5 $ years
Additional Recommended Life Insurance: $

Your family’s needs are unique. This calculator is a guideline for basic expenses. Your family may have additional needs to consider, such as cars, health and medical care, home repairs, funeral expenses, taxes, and childcare costs.

Term life insurance is practical and affordable protection. It’s the number one insurance choice for families.

Talking to one of Matrix Direct’s licensed life insurance agents can answer any of your questions and help you get the information you need. Having the right information can help you decide what is best for your loved ones, based on your needs and budget


source:http://www.matrixdirect.com/free_information/term-life-insurance-calculator.html