Life Insurance Calculator
Life Insurance Calculator for Estimating Life Insurance Needs
In The Future
This life insurance calculator helps you calculate your current needs for life insurance death benefits
in case you die some time this year. You may
need to use this calculator every year to recalculate your
life insurance needs because most likely your
life insurance needs will change year after year as
your children grow up and your financial conditions
Life insurance is mainly used for the protection
of the loss of your family income and the provision of
cash immediately after your death due to the different
death costs incurred.
The basic principle of having life insurance death
benefits as part of your estate is that
you don't want the living standard of your family
members to decline because of your pre-mature death.
On the other hand, you also don't want the living
standard of your family members to rise because of your
death. Life insurance is important especially
when your family needs to go through the important
adjustment period immediate after your death.
After a period of time, however, your family
should be able to adapt to the new situation in
your absence. Therefore, life insurance is best
used for providing immediate cash for immediate
needs and just enough cash that can add to your
existing wealth so as to keep your family
living standard the same before and after your death.
Note: You need to spend approximately 10 minutes
or more on
inputting the data required by this life insurance needs
calculator. If you are in a hurry, please
bookmark this page and come back next time when you have time!
There are several assumptions
used by this life insurance
calculator. There is no guarantee
that these assumptions meet the conditions of everyone! It is important
that you try different sets of values for the variables because
different assumptions on different variables give you
very different results depending on whether the assumptions
are too optimistic or pessimistic.
Your family's conditions will change every year.
Your life insurance needs are very likely to change over time.
I suggest that you repeat your calculation using
a life insurance calculator every year
to make sure you are neither over-insured nor under-insured.
You need to keep in mind that while you
can reduce your life insurance death benefits relatively easily,
especially when you are buying term life insurance,
it is relatively hard for you to raise your life
insurance death benefits. Life insurance companies normally
require you to have physical examinations before you can
purchase new or purchase more life insurance whether it is
term life or cash-value life insurance.
Disclaimer: This life insurance calculator is provided to anyone for free as is.
There is no guarantee that the answers given by the
life insurance calculator are either complete or correct.
It is not anycalculator.com responsibility if the user
has incurred any monetary or non-monetary loss
as a result of
using the calculator. Use this calculator only for a
very rough estimate of your life insurance needs.
Use this calculator at your own risk!
It will give you an estimate only.
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Eternal Life Insurance
How to purchase eternal life insurance (Accept the free gift of God offered to you.)