# Term Life Insurance Calculator - How It Works

Term Life Insurance Calculator - How It Works

### Term Life Insurance Calculator - How It Works

If youre in the market for life insurance, you may want to consider using a term life insurance calculator to help you determine the right amount of life insurance to meet your needs.

Among the most important questions to ask yourself before choosing your life insurance policy are the following:

1. What type of life insurance do I need?

2. How much can I afford to pay for life insurance?

3. How much life insurance do I need?

So, "How much life insurance do you need?"

Theres the old Rule-of-Thumb that life insurance agents use, which says you should have 7-10 times your annual income in life insurance.

For example, if you make \$50,000 per year, you should have \$350,000-\$500,000 of life insurance coverage to adequately protect your family.

This is based on the idea that if your beneficiary invests the death benefit of the life insurance policy and gets a reasonable rate of return on the investment, that person would receive the income from the investment to replace your income.

The thing is, even if you have 10 times your income in life insurance protection, your beneficiary would need a 10% return on the investment to replace your income.

So, there must be a better, more accurate way of determining the right amount of life insurance for you. There is - You can use a life insurance needs calculator.

With a term life insurance calculator you answer some questions about your personal financial situation, and then press a button that calculates the right amount of life insurance to meet your needs.

Usually, there are about 5-15 questions to answers, and you get an instant, accurate figure that shows you how much life insurance you need to protect your loved ones. It takes less than 2 minutes to answer the questions, and instantly get your life insurance amount.

The main benefits of using a life insurance needs calculator to figure out how much life insurance to buy include:

1. Easy - You just answer a few questions.

2. Quick - You get an instant answer.

3. Customized - Its based on your personal needs.

4. Accurate - It fits your financial situation.

When you think about it, using a life insurance calculator to quickly and easily determine your life insurance needs is one of the smartest things you could do when it comes to protecting your family.

Why? Because, by using a term life insurance calculator you find out exactly what amount of life insurance meets your personal needs of your family.

That means you buy enough life insurance to properly protect the ones you love in case you pass away. And, you dont buy more life insurance than your family needs - so you keep more of your hard-earned money in your pocket.

It just makes sense to take the time, a few minutes, to find out how much life insurance is right for you...especially when its so quick and easy to find out online in just minutes.

Use a term life insurance calculator to help you find out how much life insurance is right for you.

To find out how much life insurance you need, Please visit Term Life Insurance Calculator