These results should be used as a guide only and are not a recommendation. There may be other factors to consider in deciding how much insurance is appropriate.
(1) College Funding. This is the additional amount needed for children's college expenses after accounting for current funds in your child's name, ongoing college savings for your child, scholarships, and financial aid.
(2) Other Expenses. This includes Final Expenses, the Value of your Daily Activities (VDA), Additional Childcare Expenses, Eldercare Expenses, and Additional Savings needed (the sum of Items 12,16, 17, 18, and 22).
(3) Total Needs. The estimated amount your survivors will need to maintain their standard of living.
Note: CALC does not consider income taxes, payroll taxes, and death taxes.
It is recommended that you use this calculator only as a guideline, one of many ways to estimate and analyze your life insurance needs. The results generated may vary due to your input and assumptions. Your alumni/ae organization, Meyer and Associates, and MetLife do not guarantee the accuracy of the calculations, results, explanations, or applicability to your own situation, and suggest that you consult with your financial advisor.
*Result will be saved as PDF file to your computer, in a location you select. To be able to open and view PDFs you must have Adobe Acrobat Reader on your computer. (For a free copy, click here.)