Life Insurance Calculator

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Date: 21 Nov, 2017
Financial Assumptions Assuming Spouse 1 Dies First Assuming Spouse 2 Dies First
Current annual living expenses $ $
Today's cost of tuition, room and board $ $
Rate of inflation % %
Estimated funeral expenses $ $
Mortgage balance $ $
Other loan balances $ $
Liquid assets $ $
Current life insurance coverage $ $
Spouse's current after-tax salary $ $
Social Security survivor benefits $ $
Estimated yield on investments
Child's Name Years Until College
Computation of Life Insurance Needs If Spouse 1 Dies First If Spouse 2 Dies First
Mortgage balance $ $
Other loan balances $ $
College fund $ $
Dollars needed at death $ $
Analysis of Annual Cash Flow of Survivors Spouse 1 Spouse 2
75% of annual living expenses $ $
Less
    Spouse's current after-tax salary $ $
    Social Security survivor benefits $ $
Net annual cash flow surplus or (deficit) $ $
Additional Life Insurance Needed: Spouse 1 Spouse 2
Dollars needed at death $ $
Liquid assets $ $
Current life insurance coverage $ $
Additional insurance needed or (surplus) $ $

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NOTE: The figures shown are meant to be rough estimates. You should consult with a qualified professional before making any financial decisions based on this data.