How much do I need?

Centrian Life Insurance's Insurance Needs Calculator will help estimate how much life insurance you need. Use the result to Get a Quote and see how inexpensive our policies can be.
Annual Income $ 
Annual Child Care Expenses
$ 
Enter your Child Care Expenses: If you have minor children and your spouse will have to care for them when you die, enter $6,000 for each child. Otherwise enter 0.
Annual Personal Expenses
$ 
Enter the portion of your income that you alone spend annually, e.g. your food, car, clothing, entertainment costs, etc.
Annual Income to Replace $ 
Social Security Benefits
$ 

Enter your Social Security benefits. If you are covered under Social Security and have children under the age of 18: Enter $10,000 for one child, or $20,000 for two or more children.

(These numbers are averages. Actual benefits are calculated based on the deceased parent's actual income.)
Target Annual Income $ 
Sum needed at 6% to
Generate Target Income		 $ 
Existing Insurance
$ 
Enter existing life insurance coverage. Employer Group life insurance may or may not be included. (It is cancelled when you change jobs and may not be reliable.)
Existing Savings
$ 
Enter your existing savings and investments not currently used for family needs.
Final Expenses
$ 
Enter your anticipated final expenses, such as funeral and gravesite expenses and related costs. This amount may vary by area. In Boston and other large cities, $10,000 may be an appropriate estimate.
Other Insurance Needs $ 
Shortfall (Insurance You'll Need) $ 

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Note:

This calculator assumes that principal is used to generate the annual target income through earned interest. Hence, only interest is used as income. As a result, the principal remains intact and is available in later years for large expenses, such as college or unforeseen financial emergencies.