If we were to write about how to scientifically calculate how much life insurance you need, it would be a lengthy blog post. Truthfully, there are all sorts of ways to calculate life insurance. And while most of those ways are good, we think that there are certain elements within that calculation that should remain constant. One of those elements is a college savings calculator if you have children and intend to pay for some or all of their college tuition.
We have a great resource for just this sort of thing. And while the output is simply a suggestion, we’d advise you that it’s a data point – use it how you see fit. After all, you’re the one that must ultimately pay the premium.