Life insurance calculator: How much do you need?
Anyone with financial obligations should have life insurance, but determining how much can be a challenge. The amount of life insurance you need comes down to how much money your loved ones would need for future expenses if your income were no longer available.
A few things to consider when entering your information:
- What is your current salary? We generally suggest seven to 10 times your pretax annual salary as a starting point, but the life insurance calculator below will give you a more precise recommendation based on your needs.
- What do you want to leave behind for loved ones? If you’re hoping to leave an inheritance, you may want to consider permanent insurance. The calculator below can help you determine the insurance coverage that will provide your loved ones with the money they need.
Use our life insurance calculator to aid in your decision-making.
Insurance and annuities are offered by Edward Jones Insurance Agency (except in Quebec). In Quebec, insurance and annuities are offered by Edward Jones Insurance Agency (Quebec) Inc.