Life Insurance


How much life insurance do you need? If you added up all your debts, mortgage, car payment and other loans and obligations, would this be the right amount? Maybe if you multiplied your yearly income by 3 and added to the previous debt figure. Would this be enough coverage? How about college expenses for your children?

This is really a personal question unique to each and every individual. We feel that insuring a life is a personal matter which depends upon many factors such as size of family, income, total debt, overall savings and emotional feelings. Life insurance prices are rated on factors like age, health, gender, immediate family health history and smoking history.

The decision on how much life insurance to purchase may come down to a financial and emotional decision. Some say that you purchase as much coverage as you can afford. How much are you willing to pay or how comfortable emotionally are you willing to pay? We can discuss these and other concerns you may have about purchasing life insurance. Just supply us with some information about yourself and we will get back to you with rates and alternatives.

Use the quick spreadsheet below to give you a start on how much insurance you can afford.

How much Life Insurance do you need?
Step 1. Evaluate Your Income and Assets
What is your current income?$
How many years will your spouse need your annual income?  
Current investment income
(Rental Properties, Dividends, Annuities, etc.)
$
Existing liquid assets - All assets that can be turned into cash within 3 months
(We recommend you not liquidate retirement accounts due to tax penalties)
$
The amount of your existing life insurance coverage: $
Step 2. Evaluate Your Debts and Expenses
Outstanding mortgage balance: $
Outstanding loans: $
Final expenses:(Medical, Funeral, Taxes) $
Step 3. Evaluate Your Child Support and College Expenses
*We suggest an average annual tuition cost of $15,000 - $20,000 per year
Child: Monthly child cost: Years child support required: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years
Additional Recommended Life Insurance: $
Disclaimer: this spreadsheet calculator is for approximate estimates for coverage. Please contact us for further information.

Simply complete our online application form so we can provide you with a starting cost for your life insurance.

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800-220-9798 | 215-663-8998 | 215-663-9794 fax.