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Calculators


Got a question that involves number crunching? Use the calculators on this page to find the mathematical answer to the most commonly asked number-crunching questions, and see your inputs displayed next to the graph, chart, and/or table output in a side-by-side display.

Calculator: Print This Page
Life Insurance Needs Calculator
Income Needs
$
Lump-sum expenses
$
$
$
$
$
$
Current Resources
$
$
$
$

This worksheet is designed to quickly estimate the amount of life insurance protection you should have in place to meet survivor needs. It generates a graph that compares total cash need with current liquid assets and life insurance coverage available. It also generates a pie chart itemizing total cash need. Simply enter an amount for each category listed, then click the Calculate button to obtain the results.


Life Insurance Needs Calculator Chart

Your total cash need, based on the inputs above, is $1,020,933.
Subtracting out your current liquid assets and current life insurance coverage leaves an additional life insurance need of $520,933.

This chart shows an itemizing of your total cash need.
This life insurance needs analyzer does not include every financial consideration that may affect you, and should be used only as a guide.



    Assumptions

  • To arrive at an estimate of additional insurance coverage needed, this calculator determines the present value lump-sum amount needed to support your survivors over the number of years indicated at the estimated inflation rate and rate of return. This calculation is based on the estimated monthly living expenses of survivors, less monthly replacement income from other sources. If monthly replacement income from other sources exceeds the estimated monthly living expenses of survivors, the estimated monthly expenses of survivors is not factored into the calculation.
  • The calculator adds the amount needed to provide ongoing income to survivors to the amount of cash needed for one-time expenses to determine total cash need. Cash and liquid savings, other liquid assets available to pay off debt, and current life insurance proceeds available are subtracted from total cash need to determine additional life insurance need.
  • This calculator cannot account for all financial considerations , and should be used only as a general guide. Discuss your life insurance needs with a qualified financial professional.
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Nick Markionni offers securities and investment advisory services through Royal Alliance Associates, Inc., member FINRA/SIPC.  Additional investment advisory services offered through Focus Financial Network, Inc., a registered investment advisor.  Insurance services offered through Anthonisen Financial Corporation.  All listed entities are unaffiliated. AFC Financial Advisory Group is a marketing designation.

This communication is strictly intended for individuals residing in the states of AL, AZ, CA, CO, CT, DC, FL, GA, IA, IL, IN, MA, MI, MN, MO, MS, NC, ND, NH, NJ, NV, NY, OH, OR, PA, SC, TN, TX, VA, WV, and WI. No offers may be made or accepted from any resident outside the specific state(s) referenced.

Royal Alliance does not offer tax or legal advice.

 

 
IMPORTANT CONSUMER INFORMATION 

A broker-dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered, or is excluded or exempt from state broker/dealer, investment adviser, BD agent, or IA registration requirements as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without first complying with appropriate registration requirements, or an applicable exemption or exclusion. For information concerning the licensing status or disciplinary history of a broker-dealer, investment, adviser, BD agent, or IA rep, a consumer should contact his or her state securities law administrator.
 

 



This communication is strictly intended for individuals residing in the state(s) of AL, AZ, CA, CO, CT, DC, FL, GA, IL, IN, IA, MD, MA, MI, MN, MS, MO, NV, NH, NJ, NY, NC, ND, OH, OR, PA, SC, TN, TX, VA, WV and WI. No offers may be made or accepted from any resident outside the specific states referenced.
 


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