Life Insurance Needs Calculator – What’s the Right Amount?

Last Updated: 07/12/2017

Clients often call us and ask, “How much life insurance do I need?

The amount of life insurance you need to purchase depends largely upon your purpose for buying the coverage. 


Life Insurance for Income Replacement

The primary reason most people buy life insurance is to provide a benefit to their spouse or loved ones that will effectively replace their lost income in the event of their death.

Some financial planners recommend 5-10x your income for this, but there could be others factors to account for as well, including outstanding debts like a mortgage, student loans, and credit cards.

Since many people have NO life insurance coverage, we try not to confuse them with elaborate calculations. Our main goal is to get their family the important coverage they need at the lowest price available.

In other cases, though, we can appreciate that many people want to include other data into their needs analysis, so for those of you who like crunching the numbers, please use our Life Insurance Needs Calculator below.


Business or Estate Planning Needs

However, if you need life insurance to cover a key employee at your business, to provide liquidity to your estate, or help reduce or avoid estate taxes, a basic life insurance needs calculator won’t help.

At Term Life Advice our agents are experts at helping clients obtain life insurance protection for business buy/sell agreementskey employees, estate planning, SBA loans, and many other purposes.

No matter what your need for life insurance is, we can help. We work with clients who are considered to be a “high risk” for life insurance, and with clients who are in excellent health.


We’re Here to Help

By having access to more than 60 top-rated life insurance companies, we are able to match our clients with the best life insurance options available, saving them time and money on their life insurance needs. After you have had a chance to use our life insurance needs calculator, feel free to request a free quote online to instantly shop dozens of companies for the lowest rates.

If you’re not sure where to begin, don’t worry! We’re here to provide you with the advice you need to get started. Give us a call today, and one of our expert agents will answer all of your life insurance questions. We’ll also be able to provide you with accurate quotes from the best insurance companies available for your unique health profile.

Our agency is owner-operated and our agents do not have quotas or sales goals to meet. At Term Life Advice, our goal is to provide all potential clients with the best customer service in the industry. Most importantly, our services are free, and there is no cost to apply for coverage. Call us today, toll-free at: 855-902-6494. You can also request an instant online quote below to compare rates from dozens of highly-rated insurers in less than a minute.


Search from over 60 providers

Get your free life insurance quote in less than a minute

Coverage Amount


  • $25,000
  • $50,000
  • $100,000
  • $200,000
  • $250,000
  • $300,000
  • $400,000
  • $500,000
  • $600,000
  • $700,000
  • $750,000
  • $800,000
  • $900,000
  • $1,000,000
  • $1,500,000
  • $2,000,000
  • $3,000,000
  • $4,000,000
  • $5,000,000
  • $10,000,000+

Term Length

20 Years

  • 10 Years
  • 15 Years
  • 20 Years
  • 25 Years
  • 30 Years
  • 20-Year Return of Premium
  • 30-Year Return of Premium
  • Lifetime

or (855) 902-6494


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