Insurance Needs Calculator

This tool can help calculate how much life insurance you need. For a personalized calculation of your insurance needs, please contact your Farm Credit Services Representative.

Disclaimer: The income projection is based on present values and does not have inflation factored into the equation. This is an estimate of the total insurance needs based on the information submitted and should not be considered an insurance quote.


1. Annual Living Expenses: protects the surviving spouse and maintains the family's current lifestyle.

Total Annual income needed by your spouse/children in the event of your death:
Number of years you would like to provide this income to your spouse/children:
Your Spouse's Income:

2. Loan Protection: Reduces or pays off debt. This prevents debt from decreasing your life insurance that is intended to cover living expenses.

Home Debt:
Auto Debt:
Operating/Term Loans:
Farm Buy-Sell Funding:
Long-Term Loans:
Credit Card Debt:

3. Dependent Coverage: Recommended insurance amount for each dependent's college education. It can either be one times the annual household salary or for public tuition ($10,000 per year) or private tuition ($20,000 per year).

Number of Children:
Type of schooling:

4. Final Expenses.

Burial and Funeral Expenses:

5. Total life insurance in force (input insurance total): This current life insurance coverage will be subtracted to determine need.

Current Life Insurance in place:

6. Expected Interest Rate. (Must be greater than zero.)

What do you expect your investment to earn: