Term Life Insurance
Needs Calculator

Your age and income have a direct impact on your term life insurance needs. Generally, the younger you are, the more life insurance you need to replace a loss of lifetime income for your beneficiary(ies). To calculate the amount of coverage that you need, select your age bracket, and choose the multiple of coverage that suits your budget and lifestyle. Enter your multiple and your current pre-tax annual income into our needs calculator to determine the amount of coverage that you should have at this time in your life.

Needs Calculator

(Multiple X = Your Current Pre-Tax
Annual Income)

Your Current Age Recommended Maximum Available
< 30 15 X 20 X
31 - 40 15 X 20 X
41 - 50 10 X 15 X
51 - 60 7 X 10 X
61 - 65 5 X 7 X
66 + 3 X 5 X

Multiple X (from above table):

Your Current Annual Pre-Tax Income: 


Non-Working Spouse Coverage: Most insurance companies use $35,000 as the income value for a non-working spouse. Insurance coverage on a non-working spouse cannot normally exceed 50% of the coverage on a working spouse. Although, AIG will issue up to the same amount of coverage to a non-working spouse as the amount of a working spouse.

Coverage Limits: Different coverage limits apply for estate tax planning and business life insurance coverage. Please call us toll-free at 1-888-360-TERM or e-mail us at Questions@TermAdvantage.com, and we will be more than happy to answer any of your term life insurance questions.

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