How much Life insurance will I need?

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step may require the purchase of a life insurance policy to help ensure that your family’s needs continue to be met after your death.

The results and findings presented by this calculator may vary due to user input and assumptions. To discuss your results in greater detail and for a more in-depth financial analysis, use the contact form provided and a CFS* Financial Advisor will contact you shortly.

Age, Income, and Assumptions

Current age (if applicable) (1 to 85)

Current annual income ($)

Spouse's annual income (if applicable)' ($)

Spouse's current age (if applicable) (0 to 85)

Spouse's desired retirement age (if applicable) (0 to 65)

Investment return (-12% to 8%)

Anticipated inflation rate (0% to 10%)

Immediate Cash Needs

Funeral expenses ($)

Final expenses ($)

Mortgage balance ($)

Other debts ($)

Desired annual income needs

(Typically 70-80% of current combined income) ($)

Number of years income is needed (1 to 70)

College needs ($)

Available Resources

Investment assets ($)

Existing life insurance ($)

Include social security benefits?

Age of oldest child under 18 (0 to 18)

Age of second child under 18 (0 to 18)

Age of third child under 18 (0 to 18)

Age of fourth child under 18 (0 to 18)

Share Your Results

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*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA / SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

Financial Advisors are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with, residents of other states will be made only upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.

CFS representatives do not provide tax or legal guidance. For such guidance please consult with a qualified professional. Information shown is for general illustration purposes and does not predict or depict the performance of any investment or strategy. Past performance does not guarantee future results.