Calculate how much life insurance you need

This calculator will help you determine how much life insurance you might consider in order to:
  • Replace your income for a specific number of years.
  • Pay off major expenses, including mortgages and your children’s college educations.
What is your personal monthly net income?   
For how many years would you want to replace that income? 
What is your outstanding mortgage balance? 
How many children will be attending college? 
Estimated expense for college:
(Determine college expenses) 
What is your current outstanding debt?
Estimated final expenses/estate settlement expenses: 
Other major expenses you may want to cover 
Total Expenses:  $0.00

How much life insurance do you currently have? 
Retirement Savings:
Education Fund:
Other Assets (excluding primary residence): 
Total Insurance Needed:  $0.00
 


Charles Schwab & Co., Inc. ("Schwab"), in association with the Small Business Insurance Agency, Inc. ("SBIA"), provides customers with access to term life insurance issued by respected insurance companies. Schwab and SBIA are licensed insurance agencies. You are currently accessing content that is owned and maintained by SBIA, Inc. SBIA, is responsible for the information and content on this page. Schwab cannot guarantee that the information and content supplied is accurate, complete, or timely. (0411-2776)