How to Calculate Your Insurance Needs
There’s a lot to consider when calculating your life insurance needs. You’ll want your loved ones to be financially secure when you’re gone, but how are you supposed to come up with the correct amount? How much life insurance is enough?
Thanks to AAFMAA’s Life Insurance Needs Calculator, this question becomes a lot less stressful!
The calculator takes liabilities such as death expenses, outstanding mortgages, college funds, personal debts and others into account. The calculator also takes assets such as current life insurance policies, pensions social security income, annual income into account, among others.
This fantastic tool will help you measure your current assets, liabilities and life insurance needs to better financially prepare your family for what lies ahead.