There are many schools of thought out there as to determining the amount of life insurance coverage one needs.  We have put together three different calculations for you to use to determine your amount of coverage.  The first calculation is for basic level protection, the next is for premium level coverage, and last there is the elite level of coverage. 

Each calculation will give you a different number, so it's up to you to decide what is best for your budget and needs. We value your business. Give us a call if you would like us to run multiple quotes for you. 

Note***Please install the Add-on from Microsoft Corp. if you are having trouble viewing the calculators below.

Basic Coverage Calculation

This calculation simply adds all of the outstanding debts one may owe in addition to college expenses for children.  If a category does not apply to your situation, simply place a 0 in the field.  Your recommended coverage amount appears in the bottom right corner.

Premium Coverage Calculation

This calculation simply takes your monthly income required for expenses and it determines the amount of coverage needed to produce that same monthly amount.  The calculation does not assume a rate of inflation.  It does however assume a 6% interest rate of return on the coverage amount.

Elite Level Calculation

This calculation adds an annual rate of inflation in to the matrix.  This hypothesis is more comprehensive since it takes into account more than just your outstanding debts, etc.