1. How Much Term Life Insurance

You’re seeking term life insurance to protect your family’s lifestyle. For most of us, our lifestyle is dependent on our income which is lost upon our premature death.

The following calculator determines how much term life insurance is needed to replace a percentage of your income for a number of years. That replacement income then can be used by your family to maintain their lifestyle.

How to Calculate

We suggest that you look at 60-80% of your gross income, over a time period between today, and the time any children are no longer dependent, and retirement.
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How Much Insurance Calculator

We suggest that you look at 60-80% of your gross income, over a time period between the time any children are no longer dependent, and retirement.

You need approximately 

$670,521

of life insurance to produce an income of $40,000 for 20 years.

Understanding Your Results

Year Insurance - Income + Interest = Remaining Insurance
1670,520.9140,000.0031,526.05662,046.95
2662,046.9541,200.0031,042.35651,889.30
3651,889.3042,436.0030,472.67639,925.97
4639,925.9743,709.0829,810.84626,027.73
5626,027.7345,020.3529,050.37610,057.75
6610,057.7546,370.9628,184.34591,871.12
7591,871.1247,762.0927,205.45571,314.48
8571,314.4849,194.9526,105.98548,225.51
9548,225.5150,670.8024,877.74522,432.44
10522,432.4452,190.9323,512.08493,753.59
11493,753.5953,756.6621,999.85461,996.78
12461,996.7855,369.3520,331.37426,958.79
13426,958.7957,030.4418,496.42388,424.78
14388,424.7858,741.3516,484.17346,167.60
15346,167.6060,503.5914,283.20299,947.21
16299,947.2162,318.7011,881.43249,509.94
17249,509.9464,188.269,266.08194,587.77
18194,587.7766,113.916,423.69134,897.55
19134,897.5568,097.323,340.0170,140.24
2070,140.2470,140.240.000.00