Assess Your Life Insurance Needs This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely. You are viewing this website at a small screen resolution which doesn't support calculators. Click here to view this calculator. Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content What Can a Million Dollars Buy You? $1 million in a diversified portfolio could help finance part of your retirement. When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases. Mortgages in Retirement Explore the benefits and drawbacks to paying off your mortgage prior to retirement with this article.