CaddyClean Calculator
Life Insurance Needs Calculator
Question 1 of 8
Think about how much money your family will need to cover daily living expenses. This is typically 60-80% of your individual post-tax income.
Question 2 of 8
Think about how long your family will need the additional income to support their daily expenses. If you have children, this might be until they graduate high school or college.
Question 3 of 8
Consider things like outstanding mortgage, private student loans, credit card balances, and car loans.
Question 4 of 8
If you have children, you'll be asked additional questions about childcare and college funding.
Question 5 of 8
Consider how much it will cost for childcare services in your area and how long you'll need them. While young children may need full-time childcare, it may no longer be needed as they get older.
Question 6 of 8
Add children that you would like to provide college funding for, or skip if not applicable.
Question 7 of 8
If you don't already have one, it's a good idea to set aside at least three to six months' worth of expenses in your emergency fund.
Question 8 of 8
Do not include any life insurance policies you may have through work, since these policies will likely be eliminated when your job changes.
