Life Insurance Needs Calculator Workbook
Stop guessing how much life insurance you need. Our step-by-step workbook walks you through income replacement, debt obligations, children's education, and more — all in one printable PDF.
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Did you know? LIMRA research shows that 41% of Americans are underinsured for life insurance by an average of $200,000. This workbook helps you find your exact coverage number — not a guess.
What's Inside the Workbook
Income Replacement Worksheet
Calculate how many years of income your family would need to maintain their standard of living if you passed away unexpectedly. Factors in your current income, expected raises, and investment return assumptions.
Debt & Final Expense Inventory
A complete inventory checklist for mortgage balance, car loans, student debt, credit cards, business obligations, and estimated funeral costs — so your family isn't left holding the debt.
DIME Method Calculator
Walk through the gold-standard life insurance needs formula: Debt + Income (years to replace) + Mortgage + Education. The worksheet guides you through each variable with real examples.
Children's Education Funding Estimate
Project the cost of funding your children's college education at current tuition inflation rates. Includes public vs. private university cost assumptions and 529 plan offset calculations.
Term vs. Permanent Policy Comparison
Side-by-side comparison of 20-year term, 30-year term, whole life, and universal life policies for your specific age and health profile. Includes premium ranges and break-even analysis.
Coverage Gap Analysis
After calculating your needs and inventorying existing coverage (employer group life, existing policies), this worksheet identifies your true gap — so you buy exactly the right amount, not too much or too little.
Important Disclaimer
This site provides general educational information only and is not a substitute for professional insurance advice. All rates, data, and coverage details are estimates and may not reflect your actual premiums. Insurance availability and pricing vary by state, insurer, and individual risk factors. Always consult a licensed insurance professional in your state before making coverage decisions.