$0 based on your responses
This covers funeral costs and/or medical expenses not covered by health insurance.
$15k is an average, but you might need more (e.g., your family would need to travel for a funeral).
Adjust the suggested amount to meet your family's needs.
Consider expenses like food, utilities, transportation, plus extras like vacations. (Don't include mortgage or other debts—that's covered separately.)
Child isYears Old
* Source: Collegeboard.org
Based on your responses, here's the estimated amount of coverage you may need:
Term life is cost-effective protection for a specified amount of time. Term doesn't build up cash value.
Whole life provides protection as long as you live (premiums must be paid) with a guaranteed level premium.
Universal life is a flexible policy with variable premium payments. Typically for people who need college savings, estate planning, business planning or additional retirement savings. There is cash value.
Your agent can help you choose the policy that best fits you and your family's needs.
This calculator is a planning tool designed to assist you. The results and explanations generated by this calculator may vary due to your input and assumptions. Erie Insurance does not guarantee the accuracy of the calculations, results, explanations, nor applicability to your specific situation. All projections are hypothetical and we recommend you use this calculator as a guideline only. For a more accurate and detailed analysis specific to your circumstances and needs, contact an ERIE agent or other financial professional.
By starting over, you'll remove the details that you entered into the calculator and start at the beginning.
It's more affordable than you think.
Why buy life insurance?
to raise a child.
for a modest funeral.
per month for $250,000 in life insurance.
Sources: US Dept. of Agriculture, National Funeral Directors Association, Erie Family Life
See how different types of
Life Insurance stack up.
|LIFE INSURANCE OPTIONS||WHAT IT IS||WHO IT'S FOR|
Select from a 10-, 15-, 20- or 30-year plan to protect.
|People who need cost-effective protection for loved ones left behind.
Protection with premiums and coverage that are guaranteed to remain the same for your lifetime.
|People who need entire life protection for family with a guaranteed premium.
|Universal Life||Entire life protection; includes a policy cash value with flexible payment schedule.
People who need: