How Much Life Insurance Do I Need

Life Insurance

Income Replacement

  Step #2 - How Much Life Insurance Do I Need?

There are many factors involved in determining your Life Insurance needs. Do you need $50,000, $500,000 or $1,000,000? Let's look at some of the factors to help determine the amount that is right for you.

  Income Replacement - You are your paycheck. What
      happens to your family if you die tomorrow? This is the main
      reason people purchase Life Insurance. A basic rule of
      thumb would be 5 to 10 times you annual income.

  Mortgage / Rent - What is the remaining balance on your
      mortgage? Or if you are not yet a homeowner an estimate of
      your rental costs for the foreseeable future to protect your
      family.

  Outstanding Debt - What is the amount you owe any
      outstanding loans, credit cards or any other debt?

  College Education - If you have children that plan to go
      to college then this is a major factor. Today's total cost for 4
      years at a public university is approximately $52,000 and a
      private university is approximately $130,000. College costs
      are rising at a rate of 3 times the rate of inflation.

  Emergency Fund - 25% to 50% of your annual income
      should be allocated for a rainy day when immediate cash is
      needed.

  Funeral Cost - Approximately $15,000.

  Total Available Liquid Assets - Cash, savings,
      checking, retirement funds, existing life insurance,
      investments.

Use our Life Insurance Needs Calculator to assist you in determining your Life Insurance needs.

Take the next step to Types of Life Insurance.

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Gender:	Male     Female
Smoker/Tobacco:	Yes    No
Health Class:	Preferred Plus Preferred Regular Plus Regular
Type of Insurance:	1 Year Level Term 5 Year Level Term 10 Year Level Term 15 Year Level Term 20 Year Level Term 25 Year Level Term 30 Year Level Term 35 Year Level Term 40 Year Level Term To Age 65 Level To Age 70 Level To Age 75 Level To Age 80 Level To Age 85 Level To Age 90 Level To Age 95 Level To Age 100 Level To Age 105 Level To Age 110 Level Other Term 10, 20, 30 Year Term All Level Term Product Categories 10 Year Return of Premium 15 Year Return of Premium 20 Year Return of Premium 25 Year Return of Premium 30 Year Return of Premium To age 65 Return of Premium To age 70 Return of Premium To age 75 Return of Premium Other Return of Premium 15, 20, 30 Year with ROP Return of Premium Products To Age 121 Level (No Lapse U/L) To Age 121 Level - Pay to 100 To Age 121 Level - Pay to 65 To Age 121 Level - 20 Pay To Age 121 Level - 10 Pay To Age 121 Level - Single Pay
Face Amount:	$10,000 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $900,000 $1,000,000 $1,100,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,500,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000