Life Insurance Needs Calculator
“Ten times your income” is a slogan, not a calculation. This works the number the way an underwriter would: what has to get paid off, what income has to get replaced, and what you’ve already got covered.
1 · What would have to be paid off
Balances remaining today, not original loan amounts.
2 · Income your household would need replaced
Use take-home pay, not gross — your family lives on what lands in the account. Pick enough years to get the youngest child through school, or your partner to retirement.
3 · Education you’d want funded
Rough it in. In-state tuition, fees, and living at a Utah public university runs meaningfully less than a private or out-of-state school.
4 · What’s already in place
This is the step most calculators skip, and it’s the one that usually shrinks the number. Check your benefits portal before guessing at the group coverage.
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Want this written up?
I’ll send a one-page summary with your numbers plus the four questions worth asking before you buy anything — including the two that tell you fast whether you’re being shown the wrong product for your situation.
Educational estimate only. This tool applies a standard needs-analysis method to numbers you enter. It is not a recommendation, an offer, a quote, or an application, and it is not tailored to your full circumstances. A real coverage decision depends on your health, age, tax situation, existing benefits, and goals — none of which this page knows.
Insurance is not an investment and is not presented here as one. Any benefit is backed solely by the claims-paying ability of the issuing carrier.
How this connects to Kimberlite. Insurance products are not offered through Kimberlite Financial Services LLC, an investment adviser registered with the State of Utah. Ryan Hammett is separately licensed as a resident insurance producer in Utah (License #1126423) for Life and Accident & Health lines. If you buy a policy through him in that separate capacity, he receives a commission from the insurance carrier. That is a conflict of interest: it is compensation to recommend insurance that he does not receive if you don’t buy it. You are never obligated to purchase insurance through him, and advisory clients are never required to do so as a condition of advisory services.
Not Sure What the Number Means?
A coverage number is only the starting point. Schedule a complimentary intro call and we’ll talk through what kind of policy actually fits — including whether you need one at all.
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