To arrive at an estimate of additional insurance coverage needed, this calculator determines the present value lump-sum amount needed to support your survivors over the number of years indicated at the estimated inflation rate and rate of return. This calculation is based on the estimated monthly living expenses of survivors, less monthly replacement income from other sources. If monthly replacement income from other sources exceeds the estimated monthly living expenses of survivors, the estimated monthly expenses of survivors is not factored into the calculation.

The calculator adds the amount needed to provide ongoing income to survivors to the amount of cash needed for one-time expenses to help determine total cash need. Cash and liquid savings, other liquid assets available to pay off debt, and current life insurance proceeds available are subtracted from total cash need to determine additional life insurance need.

This calculator cannot account for all financial considerations, and should be used only as a general guide. Discuss your life insurance needs with a financial professional.

This illustration assumes a fixed annual rate of return; the rate of return on your actual investment portfolio will be different, and will vary over time, according to actual market performance. This is particularly true for long-term investments. It is important to note that investments offering the potential for higher rates of return also involve a higher degree of risk to principal. All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful.

The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. There are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely there may be surrender charges and income tax implications.