Life Needs Calculator | American Family Insurance

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Where do I begin? Start by evaluating your family's needs. Gather your personal financial information and estimate what your family will need. Include ongoing expenses(day care, tuition or retirement) and immediate expenses (medical bills, burial costs and estate taxes). Use the calculator below to help you estimate your life insurance needs. Click on the ícono de calculadora de ayuda icon for a calculator to help with that specific area.

Final Expenses:: How much do you expect your final expenses to be? Include any funeral, taxes, probate, and attorney fees?
Debts:: How much do you owe in credit cards, personal loans, etc today?
Emergency Fund:: How much would you like to leave your spouse or significant other to get back on their feet? One recommendation might be 3-6 months of your current income.
Housing:: How much is your current mortgage balance? OR How much would your spouse or significant other need to continue paying rent?
Childcare:: What would be the total amount of money you would need to cover any child care expenses you have? To arrive at this amount, multiply the monthly amount you currently pay times 12 then multiply that times the number of remaining years of child care needed. See below for help calculating this value.
Education Fund:: How much would you like to leave for education expenses?
Survivor's Income:: How much of your current income would you like to provide your spouse or significant other? How long would you like to provide this income? (Multiply the two to arrive at total amount) One suggestion might be to replace 70% of your current income if you have children, 50% if you don't have children.
Special Needs:: What amount would you like to leave any dependents with special needs?