Liabilities Liabilities to pay off? $ Income Additional annual income desired? $ Number of years? Funeral Funeral & final expenses? $ Education Education & other goals? $ Printer-friendly version Life Insurance Needs Liabilities to Pay Off Income Desired Final Expenses Education & Goals Insurance Needed Chart Table Life Insurance Needed Need Category Amount Liabilities to pay off Income desired Funeral & final expenses Education funds & other goals Life Insurance Needed Submit Life insurance is commonly used to provide money for goals that a deceased individual would have provided for themselves, had they continued living. As you consider your specific situation, it’s important to really examine the broad categories of potential need utilized in this calculator. Then, once you have calculated your need, make sure you have at least that much money available for your survivors through life insurance coverage and other funds.