Term Life Insurance Calculator

At TermQuote® we recommend that an individual purchase coverage at least 7 to 10 times their annual earned income.  However, this calculator will assist you in determining a more accurate amount of coverage.

Step 1: Annual replacement income needed if the insured dies prematurely (before-tax).

Step 2: Number of years a replacement income is needed by dependents/ beneficiaries.

Step 3: Estimate the average annual interest rate that you can earn on the invested life insurance proceeds. (%)

Step 4: Estimate the average annual inflation rate. The historic rate for the last 10 years has been approx. 3%.

Step 5: The amount of life insurance needed to replace the annual income is:


Should you need a more in-depth financial analysis, please contact our CERTIFIED FINANCIAL PLANNER, Kenneth Ingram, professional.