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Military Life Insurance and TRICARE
Supplements for Armed Forces & Services:
Active Duty, Transitioning Military,
Veterans, Retired Military, Reserve &
National Guard, Federal Employees
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USBA Group Life Insurance plans are underwritten by New York Life Insurance Company
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Home > Insurance Help & Plans > Life Insurance Needs Estimator
Insurance Help & Plans USBA Plan Recommender Photo
Step 1

Life Insurance Needs Estimator

As a start, please use our handy estimator to begin to understand how much life insurance you should have.

The more you know about your current financial situation, the more accurate your results will be. If you don’t know the answer to a question, feel free to use the calculator’s default answer, which is a best-guess estimate based on the average person’s finances.

STEP ONE: Family’s Future Expenses
Determine the annual income your family would need if you were to die today. Consider any lifestyle changes that might happen after your death, and include current expenses, such as mortgage, rent, groceries, clothing, utility bills, entertainment, travel, transportation, and child care.

 

Amount
(Monthly)

Years until
Start

Duration
(Years)

Child Care Expenses

$

Living Expenses (children at home)

$

Living Expenses (children gone)

$

Children’s College Expenses

$

Retraining or Education for Spouse

$

Other Expenses

$

STEP TWO: Available Income and Assets to Cover Expenses
List income such as employment income, dividends, interest income, and current or estimated social security benefits that would start when the insured dies.

  

Amount
(Monthly)

Years Until Start

Duration (Years)

Spouse’s Income From Work

$

Social Security Survivor Benefits help

$

Social Security Survivor
Benefits (children gone)

$

Other Income

$

Dividends, Interest Income

$

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