Life Insurance Calculator (Provided by Enterprise Bank)

Cash and savings	Total you have in cash, checking accounts, savings accounts or other accounts that can be used to help cover expenses
Home equity	Total amount of equity in your home that you are willing to use toward your living expenses
Investments	Total value of all investments that you are willing to use toward your living expenses
Other	Any other assets that you may be willing to sell or liquidate
Estate or inheritance taxes on assets	Percent taxes that are required to be paid on total assets
Probate costs	Probate costs cover a states legal fees for disbursing the assets of the deceased. You may incur significant probate costs, depending on your state of residence, even if you have a will.
Funeral costs	All costs required to cover the cost of the funeral
Uninsured medical costs	Any medical costs that are not covered by your medical insurance. Make sure to include any deductibles
Debt repayment	Credit card debt, auto loans, home equity loans, mortgages or other debt that you wish to repay. Providing the ability to repay these loans if you were to die can significantly help your family meet its monthly living expenses
College fund for children	Amounts you wish to provide your surviving children to cover future college expenses
Spouse income from work	Income expected from your spouse after your death. If your spouse needs education or retraining, make user that the starting year for this income provides adequate time to complete
Social security survivor benefits	Depending on your work history, your family may qualify for social security benefits.
Living expenses with children at home	Total monthly expenses while your children are living at home. This should include all monthly expenses except child care
Living expenses with children gone	Total monthly expenses after your children have left home. This should include all monthly expenses
Childrens college expenses	Monthly expenses for your children's college expenses. If your children have not yet entered college, leave this amount at zero and enter an amount in the college fund entry fields in the total expenses at death section
Retraining and education for spouse	Monthly expenses expected to cover any cost of education or retraining for your spouse to re-enter the workforce
Other expenses	Any other monthly expenses not included above
Combined federal and state tax rate	This is your effective tax rate. To calculate this rate take your total income for last year divided by your total federal and state taxes paid

Enterprise Bank's information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

All information you enter is confidential and private. No information is collected unless you select to.
All results are calculated on your local computer.