How Much Do I Need?

Life Insurance Calculator

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step usually requires the purchase of a life insurance policy to ensure that your family’s needs will continue to be met, even after your untimely death cuts your earnings potential short.

At Texas Trusted Advisors, we take financial and estate planning as seriously as you do. While this calculator isn’t a substitute for professional planning advice, it can provide some quick information about what steps you might want to take now to achieve your financial goals.

If you’d like any additional information or professional advice, we’re here to help. Contact Us!

D. Debts

This is referring to any debts that you might have outside the mortgage (car loan, credit cards, student loans, etc.). If we were going to write you a check to pay off all debts (excluding your mortgage) how much would that check be for?

I. Income Replacement

After paying off your debt, if we could bring your family a check every month to cover normal living expenses - how much would that monthly check need to be? And, for how many years?

= $

M. Mortgage Protection

What is your current balance that you owe the bank for your mortgage?

E. Education

What do you feel would be an adequate amount to set aside for your children's education? $50,000? $100,000? What is the approximate amount that you have already established in a college savings?

= $

E. Expenses - Final

On average, we allocate around $10,000-15,000 to cover final expenses.

ESTIMATED TOTAL INSURANCE NEED: $

Let us help you plan for your family’s financial needs. Contact Us!

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