How much life insurance do I need? Well, there’s an app for that!
If you are purchasing life insurance, it may be tricky to figure out how much you will need. Luckily, there is a calculator to use that will give you an idea of how much coverage you need.
The calculator will take account of the following factors:
- Your family’s expenses
- The income your family would need
- Your spouses income
- Inflation
- After-tax net investment
All of these factors are very important. Once you figure out how much you need, you can make a decision on what type of coverage is right for you. The Life Foundations Needs Calculator is free to download on any Apple device. You can also use the Life Insurance Needs Calculator by clicking here.
We hope this installment of Life Insurance Thursday has helped you. Make sure to check back here every Thursday.