It can be difficult to determine the amount of life insurance you need to protect your loved ones. Each family has its own unique set of circumstances, combined with the unexpected financial demands associated with the loss of life. Use the worksheet below to guide you in calculating the amount of group life insurance coverage you may need.

Needs

Immediate You Your Spouse
     Medical/hospital
     Funeral/burial expenses
     Loans/debts
     (requiring payment upon death)
 
Taxes
     Federal/state income
     Property
     Federal/state estate
 
Long Term
     Mortgage
     Debts
     (credit cards, car, etc.)
     Educational/vocational fund
     Childcare expenses
     Emergency fund
     (unforeseen expenses)
 
Income Replacement
     Amount needed

NOTE: Consider the income and number of years needed to support your family.


Resources

Available Resources You Your Spouse
     Existing life insurance
     Other assets (401(k), stocks, etc.)

    


Calculated Results

Life Insurance Needs Analysis You Your Spouse
Total needs
Total resources available
Life Insurance needed

You've calculated how much coverage your family might need. To see how much it will cost to purchase that amount of coverage (up to the maximum) through The California State University Life insurance program, use the Premium Calculator.