Insurance Needs Calculator

Our calculator uses industry-standard methodology:

1. Life Insurance: 10-12x annual income + outstanding debts + children's education costs
2. Disability Insurance: 60-70% of net income for projected disability period
3. Critical Illness: 1-2 years income for medical/extraordinary expenses

These amounts are adjusted based on your liquid assets and household status.

• Prioritize life insurance if you have dependents
• Consider term life with conversion options for budget flexibility
• Review policy exclusions (pre-existing conditions, hazardous activities)
• Coordinate employer-provided and individual policies
• Reassess coverage after major life events (marriage, childbirth, home purchase)
• Consider laddering multiple term policies for cost efficiency

“Looking to take your financial management to the next level and monitor your budget month after month?”

👉 The ActiveBudget tool helps create a personalized protection strategy.