Rather than throwing a random number out there for a Life Insurance death benefit and hoping it’s enough for your family, we’ve created a calculator that figures it out for you! Simply input your information into the calculator and you will see a detailed Income Replacement report on the ensuing page. While taking into account inflation and an estimated interest rate, the calculator will provide an exact amount for Life Insurance that is recommended, we suggest that you either round that number up or down (ex: $742,000 round to $750,000). The report will also show the income that your dependents will be spending each year while the lump sum still continues to be invested and when the money will become depleted.
Here are some interesting links for you! Enjoy your stay :)