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Help Me Decide: Coverage Amount
Coverage amount (also known as death benefit) is the sum of money paid to the beneficiaries of the life insurance policy after the insured's death.
Use the tools below to determine an adequate amount of coverage.
Years of
* Assuming investable assets earn interest at a rate of 3% annually.
Need help deciding?
Just answer a few simple questions and get a quick needs analysis. Get StartedIncome Needs
Type in a value or use the dial to enter a value for each input below.Spouse/Other Income
(All other annual income)
Years of
Income Needed
Debt and Expenses
Type in a value or use the dial to enter a value for each input below.Funeral Expense
(All funeral expenses)Mortgage
(Outstanding balance)Other Debt
(All other debt balances)Monthly Debt Payments
(All monthly debt payments)Education Expense
(Cost per child)Number Children
Savings and Existing Insurance
Type in a value or use the dial to enter a value for each input below.Total Savings
(Willing to use towards debt)Existing Life Insurance
(Sum of all policies)Needs Analysis Result
Needs |
|
|---|---|
| Immediate Needs | $ |
| Long-Term Needs | $ |
| Total Needs | $ |
Resources |
|
| Savings | $ |
| Existing Insurance | $ |
| Spouse's Earnings | $ |
| Total Resources | $ |
Results |
|
Additional Life Insurance Needed |
$ |
* Assuming investable assets earn interest at a rate of 3% annually.
Help Me Decide: Coverage Length
In general, younger people select longer life insurance policies, while people closer to retirement pick shorter terms.
The goal for most people when choosing a coverage length is to protect their loved ones throughout their income-earning years when their unexpected death would leave loved ones most vulnerable to financial hardship.
The goal for most people when choosing a coverage length is to protect their loved ones throughout their income-earning years when their unexpected death would leave loved ones most vulnerable to financial hardship.
Need help deciding?
Just answer a few simple questions. Get Started
How many years until your dependents are living on their own and/or complete with college?
I have no dependents (other than my spouse) 1-10 years 11-15 years 16-20 years 21-25 years 26-30 years 31-35 years 36 years or more
I have no dependents (other than my spouse) 1-10 years 11-15 years 16-20 years 21-25 years 26-30 years 31-35 years 36 years or more
How many years would you like to provide income replacement for your spouse?
1-10 years 11-15 years 16-20 years 21-25 years 26-30 years 31-35 years 36 years or more
1-10 years 11-15 years 16-20 years 21-25 years 26-30 years 31-35 years 36 years or more
How many years do you have left on your mortgage?
None 1-10 years 11-15 years 16-20 years 21-25 years 26-30 years 31-35 years 36 years or more
None 1-10 years 11-15 years 16-20 years 21-25 years 26-30 years 31-35 years 36 years or more
Help Me Decide: Health Class
When you apply for life insurance, the underwriter will rate your overall health and lifestyle and assign you to a risk class. These risk classes dictate how much you will
pay for life insurance. To get the best quote possible, you should choose the health class that best represents you.
Need help deciding?
Just answer a few simple questions. Get Started
Do you have any family history (parent or sibling) of heart disease or cancer?
No Prior to Age 65 Prior to Age 60 Death Prior to Age 60
No Prior to Age 65 Prior to Age 60 Death Prior to Age 60
How is your blood pressure?
135/85 or Better (Untreated) 140/90 or Better 145/90 or Better Higher Than 145/90 Unsure
135/85 or Better (Untreated) 140/90 or Better 145/90 or Better Higher Than 145/90 Unsure
Your estimated best health class you would likely qualify for is:
| Select |
Health Class Options
Exceptionally healthy(Preferred Plus) |
Very healthy with no history of major impairments, hazardous activities or substance abuse.
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|
Select |
Very healthy(Preferred) |
Good health with no history of major impairments or substance abuse.
View More
|
Select |
Above average health(Standard Plus) |
Some minor health impairments, moving violations and some hazardous activities.
View More
| Select |
Average health(Standard) |
Some health impairments, blood pressure or cholesterol issues, and moving violations.
View More
| Select |
Help Me Decide: Underwriting Type
Accelerated underwriting may be a possibility if your client can answer “no” to the following questions:
- Has your client received treatment for or been prescribed medication for any major medical condition within the past 5 years?
- Within the past 24 months has your client been:
- Declined by another life insurance carrier?
- Hospitalized for a psychiatric or medical reason (other than orthopedic related injury)?
- Filed for Bankruptcy?
- Disabled or collected Social Security Income benefits for more than six months?
- In the past 10 years has your client been charged with a felony conviction, DUI, or reckless driving?
- Has your client ever sought or received advice, counseling or treatment for the use of alcohol or drugs, including prescription medications?
- Within the last ten years, have you ever been treated for, or diagnosed as having a heart condition, chest pain, stroke, cancer, diabetes, alcohol abuse or drug dependency?
Qualification Questions
If you can answer no to all of the following questions, abbreviated underwriting may be for you.
Has your client received treatment for or been prescribed medication for any major medical condition within the past 5 years?
Has your client been declined by another life insurance carrier within the last 24 months?
Has your client been hospitalized for a psychiatric or medical reason (other than orthopedic related injury) within the last 24 months?
Has your client filed for Bankruptcy within the last 24 months?
Is your client disabled or have they collected Social Security Income benefits for more than 6 months within the last 24 months?
In the past 10 years has your client been charged with a felony conviction, DUI, or reckless driving?
Has your client ever sought or received advice, counseling, or treatment for the use of alcohol or drugs, including prescription medications?
Within the last 10 years, has your client ever been treated for, or diagnosed as having a heart condition, chest pain, stroke, cancer, diabetes, alcohol abuse, or drug dependency?