How Much Life Insurance Do You Really Need?
Use our needs calculator to find-out
Buying the right amount of life insurance
With the cost of a funeral averaging over $8,3001, and Social Security providing a one-time death payment of only $2552 (if you qualify), your family could be faced with a large funeral bill, debt, and other financial neeeds that may be difficult for them to pay, creating financial insecurity and despair.
This Life insurance Needs Calculator will help you review the scope and potential cost of a funeral. As you add up the cost, think about who would be responsible for this cost and how they would pay for these expenses. Keep in mind that McBango Insurance Services has an array of life insurance products designed to provide lifelong protection, as long as premiums are paid, and to help cover the cost of funeral and final expenses and more.
Be sure you don’t buy too much (or too little) life insurance with our life insurance needs calculator. Complete the input fields and it will even tell you which types of life insurance to buy!
Note: This worksheet is provided to you for informational purposes only and does not cover all aspects of your specific situation. McBango Insurance Services does not provide specific tax or legal advice. Please consult an attorney or tax professional regarding your own personal situation.
1 2023 National Funeral Directors Association (NFDA) General Price List Survey
2 Social Security Administration website: http://www.ssa.gov