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How Much Life Insurance Do I Need?

Share current LOB: PersonalBanking

Calculate how much life insurance coverage your family may need to cover future expenses

How much life insurance do I need?

Insurance needed
years


Assets to cover expenses
Cash and savings
$
Home equity
$
Investments
$
Other
$

Expenses at death
Estate or inheritance taxes (on above assets)
%
Probate costs
$
Funeral costs
$
Uninsured medical costs
$
Debt repayment
$
College fund, child 1
$
College fund, child 2
$
College fund, child 3
$

Your family's future monthly income
Amount (monthly)Years until startDuration (years)
Spouse's income from work
$
Social Security survivor benefits
$
Social Security survivor benefits (children gone)
$
Other
$

Your family's future monthly expenses (in today's dollars)
Amount (monthly)Years until startDuration (years)
Child care expenses
$
Living expenses (children at home)
$
Living expenses (children gone)
$
Children's college expenses
$
Retraining or education for spouse
$
Other
$

Other Information
Inflation rate
%
Your savings interest rate
%
Your state + federal tax rate
%

Your Sex

Information and these calculators are made available by one or more third party service providers. All examples are hypothetical and are for illustrative purposes. SunTrust Bank and its affiliates do not provide legal or tax advice. Information provided and these calculators are not intended to offer any tax, legal, financial or investment advice. SunTrust cannot guarantee that the information provided or the calculators are accurate, complete, or timely. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. SunTrust makes no warranties with regard to these calculators or the results obtained by their use. SunTrust disclaims any liability arising out of your use of, or any tax position taken in reliance on, these calculators. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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