Insurance Planning
Term Insurance Calculator
Calculate your life insurance coverage needs and estimated premiums.
Annual Income
$
Your current annual income
Income Replacement Years
years
Number of years to replace income for dependents
Outstanding Debts
$
Mortgage, loans, credit cards, etc.
Education & Future Expenses
$
Children's education, marriage, etc.
Existing Insurance
$
Any existing life insurance coverage
Coverage
0%
Total Coverage Needed
$0
recommended insurance
Income Replacement
$0
Debts & Liabilities
$0
Future Expenses
$0
Existing Coverage
$0
📊 Coverage Breakdown
| Component | Amount | % of Total |
|---|
How the formula works
Coverage Needed = (Income × Replacement Years) + Debts + Future Expenses − Existing Insurance
- Income Replacement = Annual Income × Years of Replacement
- Total Coverage = Income Replacement + Debts + Education/Future Expenses
- Net Coverage Need = Total Coverage − Existing Insurance
- This ensures your family's financial security in your absence
- Consider inflation and lifestyle needs when choosing coverage