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Financial Calculators

How much life insurance do I need?

Insurance needed
years


Assets to cover expenses
Cash and savings
$
Home equity
$
Investments
$
Other
$

Expenses at death
Estate or inheritance taxes (on above assets)
%
Probate costs
$
Funeral costs
$
Uninsured medical costs
$
Debt repayment
$
College fund, child 1
$
College fund, child 2
$
College fund, child 3
$

Your family's future monthly income
Amount (monthly)Years until startDuration (years)
Spouse's income from work
$
Social Security survivor benefits
$
Social Security survivor benefits (children gone)
$
Other
$

Your family's future monthly expenses (in today's dollars)
Amount (monthly)Years until startDuration (years)
Child care expenses
$
Living expenses (children at home)
$
Living expenses (children gone)
$
Children's college expenses
$
Retraining or education for spouse
$
Other
$

Other Information
Inflation rate
%
Your savings interest rate
%
Your state + federal tax rate
%

Your Sex
Estate taxes: Taxes that are levied on the assets of an estate. For 2014, the maximum amount of income that is excluded from estate taxes is $5.34 million. The maximum estate and gift tax rate in 2014 is 40%. The maximum gift tax rate in 2014 is also 40%.
Tax rates: The percentage of your taxable income that is owed to the state and federal governments. The tax rate increases as the taxable base amount increases.
Inflation rate: The yearly percentage increase in prices. The annual inflation rate in the U.S. has averaged about 2-3% in the last 10 years.
Probate: A legal procedure settled by a state court of law that identifies the heirs to your estate and determines their legally entitled share.
College savings plan: A special tax-advantaged plan, operated by a state government or an educational institution, used to save for the college education of a child, grandchild, or other dependent.
Survivors insurance: Social Security survivors insurance pays an additional benefit, called a survivors benefit, to the surviving spouse or dependent of a deceased person who was eligible to receive or receiving Social Security retirement benefits.
Savings interest rate: The yearly interest rate you earn on your savings.

Calculators are provided by LeadFusion, Inc., a third party that is not affiliated with M&T Bank. M&T does not endorse or guarantee the accuracy or results provided by the calculators or any accompanying information and M&T has no responsibility or liability whatsoever in connection with the use of the calculators or any related material. The information provided by/with the calculators is for illustrative purposes only and may vary from your actual loan, mortgage, investment, or savings results. Interest rates are hypothetical and are not meant to represent any specific investment. Rates of return will vary over time, particularly for long-term investments. Reliance on any information provided by/with the calculators is solely at your own risk.