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Get a Free Term Life Quote, Right Now!

Not sure how much life insurance you need? As a rule of thumb, financial advisors generally recommend that you go ahead and buy as much as you can reasonably afford in order to meet your family's future needs should it become necessary. Below is a handy calculator to assist you.

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Stephen Bean & Associates
1304 Langham Creek
Suite 180C
Houston, Texas 77084

Toll-Free: 1-800-622-9204
In Houston: 281-578-5500
 
Life Insurance Calculator
How much Life Insurance do you need?
Please use numbers only, no commas when completing fields.

Step 1. Evaluate Your Income and Assets

What is your current income?

$

How many years will your spouse need your annual income?

 

Current investment income (Rental Properties, Dividends, Annuities, etc.)

$

Existing liquid assets - All assets that can be turned into cash within 3 months
(We recommend you not liquidate retirement accounts due to tax penalties)

$

The amount of your existing life insurance coverage:

$

Step 2. Evaluate Your Debts and Expenses

Outstanding mortgage balance:

$

Outstanding loans:

$

Final expenses: (Medical, Funeral, Taxes)

$

Step 3. Evaluate Your Child Support and College Expenses

*We suggest an average annual tuition cost of $15000 - $20000 per year
Child: Monthly child cost: Years child will require support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Additional Recommended Life Insurance: $

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