The Best 2021 Life Insurance Quote Calculator

life insurance calculator

Key Takeaways:

  • The Needs Assessment Tool is the best 2021 life insurance quote calculator because it helps you figure out exactly what you need in a term life plan and how much it may cost.
  • This is the only needs-based calculator in the industry – it only takes 2 minutes to use and you don’t have to provide any contact details!
  • “Needs-based” means that we will only recommend the amount that a great financial planner would calculate for you. Our calculator will even tell you if we think you don’t need to buy any life insurance!

Shopping for life insurance and comparing rates from different companies can be a frustrating, confusing, involved process, but it shouldn’t have to be. There is a tool out there that you can use to find out what kind of life insurance you need and get a quote, and the best part about it (besides that it’s free) is that you won’t have to provide contact information that guarantees your inbox and voicemail will be bombarded by agents trying to get in touch with you in order to sell you a plan. 

Let’s take a closer look at the best 2021 life insurance quote calculator and discuss why the average consumer (someone who doesn’t know that much about life insurance but wants to make sure they are getting the best deal for their family) is going to find it enormously helpful! 

What it is and how it works

It’s called the Needs Assessment Tool, and it works differently than other quick quote tools you may have come across online. 

Most quote calculators offered by life insurance companies assume that you know what you are shopping for and that you have a fixed budget in mind for a plan. While that may be true for some people, the majority of people shopping online for life insurance are overwhelmed by the choices that seem to be available to them (term life? whole life? combination life? what even are those??) and do not have an idea yet of how much they should be paying for coverage, or even what the right amount of coverage is. 

Our Needs Assessment Tool takes the guesswork out of the process; we help you figure out what you actually do need in a life insurance plan based on real life events and what it might cost. The resulting recommended plan will likely be more affordable, but it will also be the right solution for your needs. Most customers who use the Needs Assessment Tool end up with a life insurance plan that costs them less than 1% of their income!

Another unique aspect of our tool is that it’s objective – if we think you’re all set and you don’t need to buy more life insurance, we’ll tell you so! It’s not often that a typical insurance company will do this, but the goal of Everyday Life is truly to give you only the coverage you need, when you need it. We take a consumer-centric approach to term life that you won’t find other companies taking.

The life insurance calculator is super simple and easy to use. It’s completely free and everything happens entirely online, so you can use the Needs Assessment Tool from the comfort of your own home or on the go. Here’s how it works: you answer a few questions about yourself, your household, and your financial situation. It only takes about two minutes to answer the questions, and you do not have to provide any contact information. Based on the information you entered, you then get a personalized recommendation for a life insurance policy that fits your life. 

If you don’t like the plan or want to look for a cheaper quote, you can keep shopping, but if you do want to confirm your plan, all you have to do is finish your application with our underwriting partner. This process takes less than 10 minutes and you may be able to get instant approval! 

What will the recommendation/quote be like compared to other quotes?

The Needs Assessment Tool is unique among 2021 life insurance calculators, and so is the resulting quote and recommendation for coverage that it gives you, which we here at Everyday Life have dubbed Predictive Protection™. Predictive Protection™ plans automatically adjust coverage during the course of your policy based on major life changes, so that you only pay for what you need, when you need it. It’s the only product like it in the entire life insurance industry – we are the first to offer these types of dynamic term life plans, but they just make more logical and financial sense. 

Take a young couple with one toddler and another baby on the way, for example. Both parents are in great physical and financial shape – they exercise regularly and have no credit card debt. They just bought their first home. 

A typical term life policy might recommend that they purchase $400,000 worth of coverage, which will stay the same over the life of a 30-year plan. That way, if anything happens to either of them, that amount will be paid out to the other spouse, and it should be enough to cover medical debt, funeral expenses, mortgage debt, and the cost of child-rearing. It sounds good on the surface, but what that plan does not take into account is that in 15 years, that couple won’t need $400,000 worth of coverage. They will have paid off much of their mortgage, and their kids will be older and closer to moving out. They are paying a monthly premium based on a coverage amount that is actually higher than what they really need.

If that young couple were to use the Needs Assessment Tool, they would get a quote for a three-step Predictive Protection™ plan that may start with $400,000 of coverage, but would decrease to $300,000 after year 10 and decrease to $200,000 after year 20, thereby decreasing their premiums and saving them thousands of dollars over the life of the policy. The coverage would automatically adjust – they would not have to go in and enter any details – and they would have the peace of mind knowing that they’re covered without the annoyance of paying for extra coverage that they don’t really need at any given point in time. 

Our process keeps you in control, and our life insurance quotes reflect everyday life with all its changes. Try out the Needs Assessment Tool today and find out how much you could save with Everyday Life!

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