Check the background of this financial professional on FINRA's BrokerCheck.

Calculators


Got a question that involves number crunching? Use the calculators on this page to find the mathematical answer to the most commonly asked number-crunching questions, and see your inputs displayed next to the graph, chart, and/or table output in a side-by-side display.

Calculator: Print This Page
Life Insurance Needs Calculator
Income Needs
$
Lump-sum expenses
$
$
$
$
$
$
Current Resources
$
$
$
$

This worksheet is designed to quickly estimate the amount of life insurance protection you should have in place to meet survivor needs. It generates a graph that compares total cash need with current liquid assets and life insurance coverage available. It also generates a pie chart itemizing total cash need. Simply enter an amount for each category listed, then click the Calculate button to obtain the results.


Life Insurance Needs Calculator Chart

Your total cash need, based on the inputs above, is $1,020,933.
Subtracting out your current liquid assets and current life insurance coverage leaves an additional life insurance need of $520,933.

This chart shows an itemizing of your total cash need.
This life insurance needs analyzer does not include every financial consideration that may affect you, and should be used only as a guide.



    Assumptions

  • 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 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 qualified financial professional.
©2017 Broadridge Investor Communication Solutions, Inc. All rights reserved.
Connect with us on: Go to Facebook  


 
 
 
 

994 Main Street, Peekskill, NY 10566
Phone: 914-734-2800 Fax: 914-734-2819 Email: larry@itistrategies.com

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and ITI Strategies Inc. are separate entities from LPL Financial. The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: NY, CA, CT, DC, WA, DE, FL, GA, IL, MA, MD, NC, NJ, NV, PA, RI, SC, TX, VA.

To ensure compliance with requirements imposed by the IRS under Circular 230, we inform you that any U.S. Federal tax advice contained in this communication, unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing, or recommending to another party any matters addressed herein.
finra.org   |   sipc.org

This site is published for residents of the United States only.  Registered Representatives and Investment Advisor Representatives of NFPAS may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.  For additional information, please contact the NFPAS Compliance Department at 512-697-6000

 


 


Check the background of this financial professional on FINRA's BrokerCheck.