Life Insurance

How Much Life Insurance Do You Need?

Providing for your family in the event of your death is a fundamental of risk management. And life insurance benefits that replace your income may be one of the best ways to meet your family’s ongoing financial needs. This calculator is designed to help you estimate the amount of life insurance you would need to produce a sufficient income stream for your family.

Ensuring that your family can maintain its current lifestyle in your absence is the purpose of life insurance. The figure below shows the life insurance benefit you would need to provide the income stream you specified for the desired number of years.

Your Results
Description	Amount
Current income before taxes	$0
Number of years income is needed	0 years
Based on the above assumptions, you need the following amount of life insurance:	$0

The information provided is not specific insurance advice, a guarantee of coverage, or a recommendation. The Life Insurance Calculator is a tool that can help you estimate your life insurance needs. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance. As with most financial decisions, there are expenses associated with the purchase of life insurance. Please consult your insurance professional to determine the coverage appropriate to your individual situation.

How will the income stream from your life insurance benefit be paid out? What will the balance be year after year? The chart below shows the initial value of a life insurance benefit, how the account balance would fluctuate year by year, and when the benefit would be exhausted. Adjust your answers below and recalculate to see how the new numbers will affect your life insurance benefit.

Michael Gallagher, American Portfolios Financial Services Inc.

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Life Insurance

How Much Life Insurance Do You Need?

Year by Year Benefit Value