How Much Life Insurance Do I Need?
How do I know if I have enough life insurance to guarantee my family’s financial security after I am gone?
Our Life Insurance Calculator can help you determine your life insurance needs based on your:
- current living expenses (ex. mortgage/rental payments, food, transportation)
- one-time expenses (ex. final expenses, college tuition for your dependents)
- current assets (ex. retirement and other savings)
- expected benefits (ex. current life insurance benefit)
We also have a helpful Life Insurance Worksheet if you prefer to work with pen and paper. Should you wish to discuss your life insurance needs with one of our financial education specialists, please contact us to request a complimentary discussion.
This calculator is intended to help you approximate life insurance coverage based upon your current situation. It is not a recommendation for specific coverage amounts. The actual amount of life insurance coverage needed to meet the financial needs of your estate or your family could be significantly different. Church Life Insurance Corporation does not guarantee that the figures generated by this calculator will meet the financial needs of your estate or family. The future value of money, changes in the inflation rate, and the cost of living will have a direct impact on your coverage needs, as will changes in your family situation. You are responsible for determining and selecting the appropriate amount of coverage. Higher coverage amounts may be selected and will likely result in higher premiums. Church Life Insurance Corporation suggests that you review your coverage periodically to determine whether your coverage levels meet your family's changing needs.
Life insurance and annuities are offered by or through Church Life Insurance Corporation, 19 East 34th Street, New York, NY 10016.