Life Insurance Calculator • iProtect Insurance & Financial Services

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I hereby consent to being contacted by iProtect Insurance & Financial Services, Inc. via phone, email, and text message to discuss their products and services.

How much annual income would you like to provide, if you were no longer here?*
Think about how much money your family will need to cover daily living expenses. This is typically 60-80% of your individual post-tax income. Don’t include college savings, childcare or any debts that you would like to pay off immediately (such as your mortgage), since those are covered in other questions.

How many years should income be provided after you’re gone?*
Think about how long you’ll need the additional income to support you and your family. If you have children, that might be when your youngest child graduates high school or college, or longer.
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Amount of Income Replacement Coverage Needed:

How much debt would you like to pay off immediately?
Consider things like outstanding mortgage, private student loans, credit card balances and car loans.

How much would you like to provide for childcare?
Consider how much it will cost for childcare services in your area and how long you’ll need them. If you’re a stay-at-home parent, you’ll likely need to pay for childcare services if you are no longer around to watch your children. Keep in mind that childcare needs will change as your children get older. While young children may need full-time childcare, it may no longer be needed as they get older and can stay home on their own while you’re at work.

How much would you like to set aside for an emergency fund?
If you don’t already have one, it’s a good idea to set aside at least three to six months’ worth of expenses in your emergency fund.

How much personal life insurance do you already have?
Do not include any life insurance policies you may have through work, since these policies will likely be eliminated when your job changes.
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Burial Costs