A life insurance calculator is a tool to determine the cost of the insurance you might need for yourself and your family. Many free life insurance calculators are available online. Be aware that every time that something changes dramatically in your life income (e.g. a new child), you must recalculate everything.
 You must feed some significant figures into your life insurance cost calculator, like living expenses, funeral expenses, estate administration expenses, taxes, mortgages and other loan payoffs, college expenses and other expenses. After that, add up your spouse’s income, social security income and other incomes.  Last, but not least important, you must fill the years of social security, your spouse’s age and an existing life insurance.