Knowing the exact amount can be tricky, but our life insurance calculator can help you find the right life insurance coverage amount for your loved ones.
STEP 1 OF 12
Insure Tip: According to the National Funeral Directors Association, the average cost of a funeral is $8,755.
STEP 2 OF 12
Insure Tip: To find out how much life insurance you'll need, just tell us a little about yourself and we'll take care of the rest
STEP 3 OF 12
Insure Tip: Include all outstanding debts including mortgage, student loans, credit cards, car loans, a family business, etc
STEP 4 OF 12
Insure Tip: Estimate how many years it will take to pay off all of your debts.
STEP 5 OF 12
Insure Tip: Tuition can vary from $36,000 for a public 4-year college to $120,000 or more for a private 4-year college.
STEP 6 OF 12
Insure Tip: Tuition + room & board can vary from $85,000 for a public 4-year college to $194,000 or more for a private 4-year college. Remember to add up costs to include all children.
STEP 7 OF 12
Insure Tip: This will help determine how long you may need a life insurance policy to be in effect.
STEP 8 OF 12
Insure Tip: Even if you're a stay-at-home parent, funds will be needed to pay for child care and other household tasks. The Insure.com Mother's Day survey estimates $65,000 a year for these responsibilities.
STEP 9 OF 12
Insure Tip: Think of the amount your family will need each year without your contribution.
STEP 10 OF 12
Insure Tip: You should consider your age and the ages of those in household.
STEP 11 OF 12
Insure Tip: Consider who else besides your family you may want to leave money to, such as a charity, and include that amount here.
STEP 12 OF 12
Insure Tip: The earliest age that a person can start receiving Social Security retirement benefits is age 62 and full benefits may not be available until age 67 other needs.