[Company Logo Image]

 

Home Up Contents SEARCH 

IRS Enrolled Agent Logo

Home
Location
Services
Why an Enrolled Agent
Certifying Acpt Agent
Free Services
Email Advice
Track Your Tax Refund
Organizer
QuickBooks
Tax Glossary
Newsletters
Neat Facts & Stats
1913 US Form 1040
Calculators
Questions & Library
Partner Profiles
Tax Calendar
Reasons to Call Us
Links Of Interest
Privacy & Disclosure

 

Life Insurance Needs Calculator

Warning ! This calculator is for educational purposes and is not a specific recommendation of your individual or family life insurance needs.

 

How much Life Insurance do you need?

Please use numbers only, no commas when completing fields.

Step 1. Evaluate Your Income and Assets

What is your current income?

$

How many years will your spouse need your annual income?

 

Current investment income (Rental Properties, Dividends, Annuities, etc.)

$

Existing liquid assets - All assets that can be turned into cash within 3 months
(We recommend you not liquidate retirement accounts due to tax penalties)

$

The amount of your existing life insurance coverage:

$

Step 2. Evaluate Your Debts and Expenses

Outstanding mortgage balance:

$

Outstanding loans:

$

Final expenses: (Medical, Funeral, Taxes)

$

Step 3. Evaluate Your Child Support and College Expenses

*We suggest an average annual tuition cost of $15000 - $20000 per year
Child: Monthly child cost: Years child will require support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Additional Recommended Life Insurance: $

  [Back] [Home] [Up] [Next]

Disclaimer
We do not offer legal advice. All information provided on this website is for informational purposes only and is not a substitute for proper legal advice. If you have legal questions, we recommend that you seek the advice of legal professionals.

Tax Disclaimer: To ensure compliance with IRS Rules, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer under the Internal Revenue Code, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Copyright © 2017 Wink Tax Services / Wink Inc.
Last modified: January 30, 2017