Life Insurance Needs Calculator — सूत्र
## How to Calculate Life Insurance Needs
The income-replacement method adds up:
1. **Income replacement**: Annual salary multiplied by the number of years your dependents need support
2. **Debt payoff**: Mortgage, car loans, credit cards, student loans
3. **Future obligations**: College tuition, childcare, funeral costs
Subtract any existing coverage to find your gap.
### Rule of Thumb
Many advisors suggest 10-12 times your annual income, but a detailed calculation is more accurate.
The income-replacement method adds up:
1. **Income replacement**: Annual salary multiplied by the number of years your dependents need support
2. **Debt payoff**: Mortgage, car loans, credit cards, student loans
3. **Future obligations**: College tuition, childcare, funeral costs
Subtract any existing coverage to find your gap.
### Rule of Thumb
Many advisors suggest 10-12 times your annual income, but a detailed calculation is more accurate.
हल किया गया उदाहरण
$75,000 income, 10-year replacement, $200,000 debt, $100,000 future expenses, no existing coverage.
- Income replacement = $75,000 x 10 = $750,000
- Add debts = $750,000 + $200,000 = $950,000
- Add future expenses = $950,000 + $100,000 = $1,050,000
- Subtract existing coverage ($0) = $1,050,000 needed