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Income based Life Insurance calculator

Life insurance is a must for all individuals for their protection, you need to know what amount to spend according to your earning potential, if you are earning 5000$ a month you cannot afford to pay a premium of 4000$ a month. You need to decide what is the level of insurance, this type of calculator will be available in your insurance company website or you can check it this Income based life insurance calculator online.  You need these following details to filled in the calculator.

  • Specify Your age
  • Specify At what age you are going to be retired
  • Your current annual income
  • Other benefits of what you need to  pay for your employer like  health, power  and other necessities
  • Are you eligible for tax – you need to provide details of it in percentage
  • Your current monthly expenditure, like rent, power and other expenses.
  • Figures of whether you have invested in any other life insurance policies.

It will show you  when you will get the returns, and  help you guide about what is the extent of coverage you need to replace your income for life insurance and it shows the Investment rate of return.