Northwestern Mutual

Life Insurance Calculator

How Much Life Insurance Do I Need?

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A life insurance policy is used to supplement income that your family may earn from:

  • Nonrecurring events, such as the sale of assets to pay outstanding debts or expenses.
  • Income from Social Security, pensions, investments, or salaries.

Key assumptions of this tool include:

  • The results shown are after inflation and taxes
  • Available assets (including home equity, savings, and other investments) are treated as a source of income. It is assumed that they are sold at the time of unexpected death and therefore become available as a cash resource.

A life insurance policy is used to supplement income that your family may earn from:

  • Nonrecurring events, such as the sale of assets to pay outstanding debts or expenses.
  • Income from Social Security, pensions, investments, or salaries.

Key assumptions of this tool include:

  • The results shown are after inflation and taxes
  • Available assets (including home equity, savings, and other investments) are treated as a source of income. It is assumed that they are sold at the time of unexpected death and therefore become available as a cash resource.