Westlake Private Wealth Management

Printed from: www.westlakepwm.com

Life Insurance

How Much Life Insurance Do You Need?

Providing for your family in the event of your death is a fundamental of risk management. And life insurance benefits that replace your income may be one of the best ways to meet your family’s ongoing financial needs. This calculator is designed to help you estimate the amount of life insurance you would need to produce a sufficient income stream for your family.

Ensuring that your family can maintain its current lifestyle in your absence is the purpose of life insurance. The figure below shows the life insurance benefit you would need to provide the income stream you specified for the desired number of years.

Your Results

Current income before taxes $0
Number of years income is needed 0
Based on the above assumptions, you need the following amount of life insurance: $0

The information provided is not specific insurance advice, a guarantee of coverage, or a recommendation. The Life Insurance Calculator is a tool that can help you estimate your life insurance needs. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance. As with most financial decisions, there are expenses associated with the purchase of life insurance. Please consult your insurance professional to determine the coverage appropriate to your individual situation.

How will the income stream from your life insurance benefit be paid out? What will the balance be year after year? The chart below shows the initial value of a life insurance benefit, how the account balance would fluctuate year by year, and when the benefit would be exhausted. Adjust your answers below and recalculate to see how the new numbers will affect your life insurance benefit.

Year by Year Benefit Value

 

[[Member Agent]] is an agent licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent insurance companies in the states of [[agent states in which licensed]]. No insurance business may be conducted outside of these states referenced.

[[Member Agent]] is a Financial Advisor offering investment advisory services through Eagle Strategies, LLC, A Registered Investment Adviser, in the states of [[agent states in which licensed]]. As such, these services are strictly intended for individuals residing in the states referenced.

[[Member Agent]] is a Registered Representative of and offers securities products and services through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency. In this regard, this communication is strictly intended for individuals residing in the states of [[agent states in which licensed]]. No offers may be made or accepted from any resident outside the specific states referenced.

[[Member Agent]] is a Member Agent of The Nautilus Group®, a service of New York Life Insurance Company.

[[DBA Name if applicable. Delete this section if no DBA]] is not owned or operated by NYLIFE Securities LLC or its affiliates.

Neither [[DBA Name and it's employees OR Member Agent]] nor The Nautilus Group®, Eagle Strategies LLC or its subsidiaries and affiliates provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional regarding your particular situation.

FINRA’s BrokerCheck Obtain more information about our firm and its financial professionals
FINRA’s BrokerCheck Obtain more information about our firm and its financial professionals