Term life insurance
Is Your Life Insurance Enough to Protect Your Family's Future?
Your life insurance may cover immediate expenses, but will it also protect your family's long-term financial goals?
- Explore needs. Model retirement and college in Wealth Coach.
- Model hypothetical benefits. Explore how assumed life insurance payments could affect your family’s goals.
Explore how assumed life insurance benefits compare with your family's projected financial needs.
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Your financial overview is free. Editing and simulations require an upgrade or an active trial that includes those features.
Explore assumed life insurance benefits alongside your family's projected financial needs.
Important Information About This Illustration
Assumes a 30-year term life policy and an eligible claim. Benefits are evaluated against your family’s projected financial needs. Wealth Coach is not an insurance broker.
View assumptions and limitations
Wealth Coach models the potential financial impact of a 30-year term life insurance policy. The illustration assumes that the insured person’s death occurs while coverage is in effect, qualifies for payment under the policy, and results in the assumed death benefit being paid.
The projected benefit is evaluated against your family’s future financial needs based on the information and assumptions you provide.
Actual insurance coverage, eligibility, exclusions, premiums, and benefit payments depend on the terms of an individual policy.
Wealth Coach is a financial planning tool, not a licensed insurance broker or insurance company. We do not sell, issue, or underwrite insurance policies.
These illustrations are for financial planning purposes only and do not constitute an insurance quote, coverage recommendation, or guarantee of benefits.
Beyond the rule of thumb
Your life isn’t a multiple of your income.
You’ve probably seen rules suggesting life insurance equal to 10x your income or some other simple formula.
But your family isn’t a formula. Your mortgage, savings, income, children, college goals, spending, investments, debts, and plans for the future are unique.
The question isn’t what someone with your income should have.
It’s what your family would actually need.
How Wealth Coach helps
See the financial picture your family could face.
Using your financial picture, Wealth Coach forecasts the resources your family could have available and the financial needs they could face over time.
Then it helps you understand how much additional protection may be appropriate to help keep your family’s financial future on track.
Everyday finances
Understand whether your family could continue covering its expected expenses.
Accessible cash
See how much money could remain available for unexpected expenses and life changes.
Your home
Understand how mortgage and housing costs could affect your family’s needs.
College funding
See whether education goals could remain on track.
Long-term financial goals
Understand how the loss of income could affect the future you were building together.
As life changes
Your insurance needs can change when your life changes.
The amount of protection that makes sense today may not be the amount that makes sense five years from now.
A new child. A bigger home. A different job. More savings. A spouse leaving the workforce. A major purchase. Children getting older.
As you update your financial picture and explore life changes in Wealth Coach, your projected financial needs can change too.
Your life changes. Your coverage needs should be able to change with it.
How it works
From a number to the bigger picture.
- 1
Build your financial picture
Enter your household finances, goals, and assumptions.
- 2
See what could happen
Wealth Coach forecasts your family’s financial position in the event of a death.
- 3
Understand the potential gap
See the amount of insurance that may help protect your family’s financial interests based on the information you provide.
- 4
Explore your options
If you decide you want coverage, consider discussing your needs with an independent insurance professional.
Our role
Wealth Coach doesn’t sell you insurance.
Wealth Coach is not an insurance agent or broker.
Our role is to help you better understand your financial picture and potential insurance needs before you shop for coverage.
An independent insurance professional can help you evaluate available products and coverage.
We built the financial decision tool we couldn’t find.
Wealth Coach combines highly customizable financial scenarios with approximately 250,000 interconnected formulas to help you understand how one decision could affect your other financial goals.
Explore your options anytime, directly from your phone.
Know the number before you shop for the policy.
Life insurance is ultimately about protecting the people and plans that matter to you.
Before choosing a coverage amount based on a rule of thumb, see what your family could actually need.
Build your financial picture in as little as 3–5 minutes.
Download Wealth Coach to explore assumed benefits
Wealth Coach provides illustrative projections. Not financial advice. Wealth Coach is not an insurance agent or broker.
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