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How much Life Insurance do you really need?

Remember that when purchasing life insurance it's all about how much capital your family will need when you die.

How much will be needed when you die to meet immediate obligations?  This amount is the accumulation of all final expenses: medical bills, funeral and estate-settling costs, outstanding debts, mortgage balance and college costs.

How much future income will be needed in order to sustain the household? This is the summation of the “present value” of cash-flow streams your loved ones will need after your death.

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The Value of All You Do


If something were to suddenly happen to you, your family might have to hire others to take on some of your daily activities. You'd be surprised at how all you do adds up!
  • To see just how much, estimate the number of hours per week that you spend on each of the activities below.

  • The final cost will then be part of the calculation of how much life insurance you need. Even if you earn no income, insurers generally allow you to get as much life insurance as your working spouse has.

  • To get a full picture of your insurance needs, be sure to look at your spouse's life insurance coverage, too.


Life Insurance Needs Estimator
How much life insurance is enough? Get a quick estimate.


This calculator provides a quick and simple method to estimate the amount of additional life insurance you need.


Life Insurance Needs Estimator The Value of All You Do

1. Select the number of years you expect to provide child-related and other services.
2. Make further adjustments based on your situation. The default numbers for hours per week and hourly rate are based on national averages.
Click to learn more Help
Services Hours
per Week
Hourly Rate1 Estimated
Weekly Cost
Number
of Years
Estimated Total Cost
Child-Related Services Select expected number of years:  
Child Care  
Driving Family Members  
Tutoring / Home Schooling  
Other Services Select expected number of years:  
Housekeeping / Home Mgmt.  
Food Preparation  
Bookkeeping  
Yard Care & Maintenance  
Home Maintenance & Repair  
Care of Parent/Relative  
  
  
Total Estimated Costs
This is how much life insurance you would need to cover these services2   
1 Based on current market rate averages.
2 Inflation is assumed to be %. The rate of return on investment is assumed to be % after tax. The return is purely hypothetical and is used for illustrative purposes only. Performance results are not indicative of any particular investment. Actual results and investment risks will vary.
Life Insurance Needs Estimator The Value of All You Do

Click to learn more Help
Income Needs
$
$
  
Expenses
$
$
Expand/Collapse Text  [ Show Detail ] Expand/Collapse Text  [ Hide Detail ]   
Number of children: Annual Tuition Years of College Total per Child
$
$
$
$
$
$
$
$
$
$
Total College Costs:
$
The Value of All You Do: Calculate the cost of daily activities   $
Total capital required  
Assets
$
$
$
Total of all assets  
Estimated amount of additional life insurance needed     
1 Inflation is assumed to be %. College costs are indexed at %. The rate of return on investment is assumed to be % after tax. The return is purely hypothetical and is used for illustrative purposes only. Performance results are not indicative of any particular investment. Actual results and investment risks will vary.
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Oak Arbor Insurance Solutions
CA DOI LIC #
​0K21347
414 Tennessee St 
Suite Y
​Redlands, CA 92373
909-307-9630

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