How Much Life Insurance Do You Need ??? (a Free, Simple Worksheet From Someone Who Doesn’t Sell Insurance Or Work For An Insurance Company)

There’s not an exact formula that’s always right for everyone, but the worksheet below (available as a free PDF here — no email or signup or anything else required) is a good way to start.

screenshot from the PDF

The general idea is simple: add-up all the things that are important to have money for if you’re not around to provide for them, and then offset that amount by resources you already have (savings, 401k assets, etc.).

What kind of insurance? I’m not really sure, but term insurance is the simplest and cheapest way to go — everything else costs more money, pays more commission, and has more benefits and drawbacks.

Like any other purchase, research carefully from a variety of reputable sources and be careful about blindly following advice from people who stand to earn a large commission from your decision.

Who should I buy from? I can’t say for sure, but things to consider include the company’s financial strength (will they still be in business?), and their reputation for good customer service.

Good luck!

I do not sell life insurance, or investments or financial planning, or work for any company in these fields. I do have a workbook for helping families get their affairs in order. Learn more at