People who should have it:
People who shouldn’t have it:
Sorting out how much life insurance you need is a little like figuring out how much long-term disability insurance to buy. It’s income replacement, except the person whose income you’re replacing no longer needs to be supported (because they’re dead). Instead, it’s just the survivor who may need financial help.
But how much help might they need? And for how long? To figure this out, you’ll need to answer a few things:
You can see where this starts to get confusing. Plenty of people throw up their hands and simply attempt to replace five or ten years of their income with a term life insurance policy. That's much better than doing nothing. This basic calculator will help you get at this number. This more complicated calculator takes future expenses like living costs, educational costs, and medical bills into accont.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62% ![]() |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% ![]() |
3.51% |
| 5/1 Year ARM | 3.62% ![]() |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89% ![]() |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% ![]() |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13% ![]() |
1.15% |
| 60 Month IRA CD | 2.40% ![]() |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% ![]() |
12.68% |
| No Annual Fee Cards | 12.08% ![]() |
11.97% |
| Reward Cards | 12.75% ![]() |
12.61% |
| Small Business Cards | 11.01% ![]() |
10.94% |
| Student Cards | 13.77% ![]() |
13.49% |
| Platinum Cards | 12.26% ![]() |
12.11% |
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