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Life Insurance Needs Calculator
Since it’s Life Insurance Awareness Month, I wanted to take some time to share a tool with you call the Life Insurance Needs Calculator. Keep in mind, this is not a replacement for a consultation with a professional because it won’t ask you specific questions or discuss your personal situation. Just know that there are many factors which determine how much money you will need to be protected. These include:
- Number of dependents.
- Current monthly budget.
- Debt Load (total and monthly).
- Your age and the age of your dependent survivors.
- Your other investments.
There are many factors but the above list is a good start. The tool below will ask you a few basic questions to give you a high level overview to know how close you are to having your loved ones protected. It’s always best to talk to a professional life insurance agent, and I would be happy to answer any questions for you.
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