How Much Life Insurance Do I Need?

Calculating your economic value to your family is an important part of buying life insurance. The ReliaQuote needs calculator is an easy-to-use tool that can help you estimate how much life insurance you require based your own assumptions and personal data.

This life insurance calculator should be used only as a guide and should not be considered a recommendation.

Click here for more information about ReliaQuote's life insurance needs calculator or click here for instant quotes.

If you died tomorrow, how much money would your family need to cover the following expenses?

IMMEDIATE CASH NEEDS:
Funeral
Estate Administration Expenses/Fees
Emergency Fund (for an unexpected crisis, such as a major illness)
Pay Off Mortgage
Pay Off Loans And Debt (auto loans, credit card, personal loans, etc.)
INCOME REPLACEMENT:
Annual Income Replacement Needed: (after tax; today's dollars)
Number of Years of Income Is Needed
Annual Growth Rate of Insurance Fund (after tax annual rate of return applied to the insurance fund that provides the replacement income)
Expected Inflation Rate (long term historical inflation rate is about 4%)
CHILDREN'S EDUCATION FUNDS:
Number of Children Requiring College Education Funding
FUNDS AVAILABLE AT DEATH:
Savings, CD's, Bonds, Mutual Funds, Stocks, Etc. (non-retirement funds)
Retirement Funds (if you want to leave these for your spouse at retirement, enter 0)
Current Life Insurance On Your Life (not to be replaced)
Other Liquid Assets

Needs Analysis