Home
/
Resources
/
Protection calculators
/
Advanced analysis

Basic vs advanced protection analysis

Walk through income, obligations, family, housing, business, riders, and assets.

Educational estimate only

This tool provides general planning estimates. It is not underwriting, a quote, or legal/tax advice. Actual coverage needs and premiums depend on health, carrier rules, and your full financial picture. Consult a licensed professional before buying or changing insurance.

Step 1 of 9 — Household

Household

Context for recommendations (does not change core math unless you adjust later steps).

Marital status * .Used for recommendation text only—does not change the numeric formula.

Housing * .Renting may mean less emphasis on mortgage payoff in your real plan; math still uses your liability entries.

Dependents (context) * .Count people who rely on your income for context—not a dollar input in the formula.

Income & replacement

Gross income * .Annual gross before taxes—reference for planning; net drives the replacement % calculation.

Net income (for %) * .After-tax income used with the replacement % to size income need.

% of income survivors need * .Share of net income survivors would still need if you died (often 60–80%).

Replacement years * .Years of income stream to replace—often until retirement or kids launch.

Survivor income offset (annual) * .Other annual income survivors expect (job, Social Security estimate)—reduces insurance need.

Income growth (annual) * .Expected salary growth rate for context; simple mode does not project year-by-year raises.

Use present value (inflation + discount) * .Discount future needs to present value using inflation and discount rates below.

Inflation rate * .Assumed annual inflation on the income need each year (decimal, e.g. 0.03).

Discount rate * .Discount rate for present value (decimal). Higher rate lowers PV of future need.

Liabilities

Mortgage * .Principal balance counted in liability payoff; also affects housing if payoff is checked.

HELOC * .Home equity line balance to retire at death if included in your plan.

Car loans * .Total vehicle loan balances.

Credit cards * .Revolving consumer debt to clear.

Student loans * .Education debt balance.

Personal loans * .Signature or unsecured personal loans.

Business loans (personal guar.) * .Business debt you personally guaranteed.

Tax obligations * .Estimated taxes due or estate settlement taxes you want liquidity for—rough.

Immediate death costs

Funeral / burial * .Burial, funeral home, plot, service.

Legal / probate * .Attorney, probate court, executor fees.

Medical bills * .Final medical costs not covered by insurance.

Emergency transition * .Cash buffer for 3–6 months while finances stabilize.

Family support

Monthly household expenses * .Used in a short-term family support estimate in the model.

Childcare / year * .Annual daycare, nanny, or after-school cost.

Years childcare * .Years until you expect that childcare cost to end.

Education / child * .Lump sum per child toward college or trade school goals.

Number of children * .Number of children for education and childcare math.

Eldercare / year * .Support for parents or relatives—multiplied in the estimate.

Household help / year * .Cleaning, yard, or other paid help—multiplied in the estimate.

Housing

Pay off mortgage fully (liability section) * .When checked, mortgage/HELOC balances are in liabilities; housing adds tax/maintenance only.

Years mortgage support (if not paying off) * .If not paying off, how many years of mortgage payments to fund.

Annual mortgage payment * .Principal and interest annual total or 12× monthly payment.

Property tax / insurance reserve * .Property tax plus homeowners insurance reserve.

Home maintenance reserve * .Repairs and upkeep reserve.

Business exposure

Revenue depends on insured * .If the business relies on you for sales or delivery, extra business reserves may apply.

Replacement labor (annual) * .Cost to hire or contract to replace your role for a transition.

Business continuity reserve * .Cash to keep doors open if revenue dips after your death.

Key person reserve * .One-time or lump need if a key revenue or ops person must be replaced.

Buyout funding * .Buy-sell or succession funding target—not a formal valuation.

Health / riders buffer

Chronic illness protection target * .Target death benefit slice for chronic illness rider discussions (illustrative).

LTC-style reserve * .Rough reserve for long-term care style exposure via policy or self-insure.

Disability overlap adjustment (−) * .Subtract overlap if strong DI already replaces income—avoid double counting.

Existing resources

Cash savings * .Checking and savings that could pay bills immediately.

Liquid investments * .Brokerage or funds accessible without major penalty.

Retirement accessible to survivor * .401(k)/IRA dollars realistically available to survivor after tax/penalty.

Existing personal coverage * .In-force individual life face amounts.

Group life * .Employer group term—confirm portability before relying on it.

Other death benefits * .Accidental death, annuities, or other lump benefits.

Coverage need

—

Breakdown

Assumptions

What did we miss?

Future children or adoption plans?
Business expansion or new debt?
Estate or trust liquidity?
Long-term care or chronic illness riders?

Advisor checklist (internal)

Health class / tobacco — confirm with client
Term ladder vs single band; conversion rights
Riders: chronic illness, LTC-style benefits (carrier-specific)
Cross-check mortgage payoff vs housing step

Email my results

Optional — we’ll send a copy of your summary. You can also download a PDF from the results section.

Name * .Your name as you want it used in follow-up. Required to send the summary.

Email * .Where we’ll email your calculator summary. Required; not sold to third parties for marketing.

Phone (optional) * .Optional. Lets an advisor reach you by text or call if you want a conversation about the results.

I agree to be contacted about protection planning. I understand this is not a quote. * .Required to submit. You consent to contact about protection planning; this tool is educational, not a quote or offer.