Life Insurance Calculator - How Much Life Insurance Do You Need?
How Much is Life Insurance? Calculate Your Life Insurance Needs & Cost
American Family Life Insurance Company offers a variety of life insurance products to help financially protect the people you love, and you might be surprised at how affordable it can be. When it comes to life insurance, many people's first question is "how much life insurance?" The cost of life insurance is often overestimated, but we make it simple to get an idea of how much you might pay for coverage with our Life Insurance Calculator.
When you purchase life insurance, you’re not buying it for just yourself — it’s a proactive way to help financially protect the people you care most about if you were to pass away. So it’s important to understand what exactly goes into calculating how much coverage you need.
How to Calculate Your Life Insurance Needs
First add up key expenses you may have like your mortgage, childcare, education and other related expenses or debts.
Be sure to include things like funeral, cremation and memorial services.
How much of your annual income would your loved ones need to maintain current living standards? And how many years would they need to have that extra financial support?
Add up your personal assets
Now that you know the general guidelines for calculating your life insurance needs, start the life calculator to discover how much coverage you need and compare price quotes* for our different levels of coverage.
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*Subject to product specifications. Some products and coverage amounts cannot be quoted online and will require agent assistance.
**This estimate assumes a Super Select rating tier. The exact premium can only be determined after an underwriting review and may be different from this estimate, or the policy may not be available. A medical exam may be required before a policy can be issued. Please contact an American Family agent for further details.