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Life Insurance Needs Calculator

How much insurance should I get? A quick, educational estimate from five simple questions.

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Calculator

Think about things like your mortgage, credit cards, auto loans, and other debts. Type 0 if none.

The income your family would lose. Type 0 if none.

years

How much should be set aside for final expenses?

Such as a funeral and final bills.

How much should be set aside for your kids' college expenses?

The total for all of your kids. Leave at $0 if none.

Your estimated life insurance need

Enter your information to see your estimate.

Still needed:

  • How much debt you have
  • Yearly income to replace

An educational estimate, not a recommendation or a quote.

The method behind this tool has not been checked yet

The arithmetic runs entirely on figures you enter, and every step of it is written out below. It has not yet been independently checked, so treat what it produces as a starting point for a conversation rather than a settled number.

How this is calculated

Every figure this tool produces should be traceable to a step you can check.

  1. 1.Debt: the total debt you entered, such as a mortgage, credit cards and loans.
  2. 2.Income replacement: the yearly income you entered, multiplied by the number of years it should continue.
  3. 3.Final expenses and college: the amounts you chose, added exactly as entered.
  4. 4.Estimated need = debt + income replacement + final expenses + college.

Assumptions

  • • Nothing is adjusted for inflation, investment returns or taxes.
  • • Savings, life insurance you already have and Social Security benefits are not subtracted. A licensed professional can help you account for them.
  • • Every figure comes from what you entered. Nothing is inferred from your age, location or credit.

Learn the background

Income ReplacementIf the income a household depends on stopped, life insurance is one way to replace part of that support. This is how to think about how much, and for how long.For FamiliesWorking out what a household would actually need if the support it runs on stopped — income, care, education and stability — without counting the same need twice.

Common questions

Is this a quote?
No. It estimates an amount of coverage, not a price. To see a rough monthly cost, try the Life Insurance Quote Estimator.
Why doesn't it subtract my savings or the insurance I already have?
To keep it simple. This version adds up what your family might need. A licensed professional can help you subtract savings, life insurance you already have and any Social Security benefits.
What if I have no debt or no kids?
Type 0 for debt, and leave college at $0. Zero is a perfectly good answer.
What happens to what I type in?
Your numbers are sent securely to Bleu Financial's calculation service, which works out the estimate and sends it back. It does not store them, and they are never put in a web address or sent to analytics.

Sources

  1. 1.Life Insurance Buyer's Guide — National Association of Insurance Commissioners
  2. 2.Life Insurance — National Association of Insurance Commissioners
  3. 3.Life Insurance Guide — Washington State Office of the Insurance Commissioner

This tool produces an educational estimate based on the assumptions you enter. It is not a quote, an illustration, or a prediction of results. Actual costs, benefits and outcomes depend on carrier underwriting, product terms and your individual circumstances.

Want to talk these numbers through?

A licensed insurance agent can discuss your options with you, with no obligation. There is no need to email us your figures.

Talk with Bleu

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