Life Insurance Needs Calculator

Living Expenses

Annual living expenses to provide ($)

Years to provide

Expense growth (%/yr)

Debts to pay immediately ($)

Emergency fund ($)

Burial cost ($)

College inflation (%/yr)

Enter the child’s current age, today’s annual cost (e.g., in state public), and years of college.

Discount rate (%/yr)

Current personal insurance ($)

The discount rate is your expected net investment return (after inflation).

Formulas

Growing annuity PV: PV = P × (1 − ((1+g)/(1+r))^n) / (r − g) (if r ≈ g, PV ≈ P·n/(1+r)).
College: each future year is inflated at the college inflation rate and discounted back at the discount rate.