Do you have the insurance you need? Find out what you can afford.

There are two ways to look at the cost of insurance: the high price of premiums, and the even higher cost or having no coverage when you need it. While insurance can add to your monthly budget, it can save you a lot of stress and money if you are in an accident or find yourself in need.

Are you under-insured? Depending on your life circumstances, you may need life insurance, homeowners’ coverage, auto insurance, a long-term disability policy, medical coverage and more. Trying to find the best deals on these financial products doesn’t have to be daunting.

Money Help Center has calculators to help you determine your life insurance, disability coverage, long-term care coverage and other needs. Our calculators are free of bias because they’re not associated with any business or insurance provider, so you get the real facts about insurance options. The calculators are also free to use and deliver information in an easy-to-understand graphic and written format, helping you make smart choices with your money.

The Cost of Insurance

Why calculate the yearly costs of insurance? Doing the math is the only real way to know how much you’ll end up paying and how much coverage you need. For example, if you need life insurance, looking at your options and your yearly costs can help you evaluate how much you need to put aside. You’ll also need to consider how much coverage you want, which in turn can lead you to discover that final burial costs may not be what you had thought. Many funeral expenses today are $15,000 or more and there may be final medical expenses and other costs for your family to consider.

Carefully considering your insurance needs now and not when you need to make a claim can help you find the right insurance for you. Looking at your yearly insurance premiums can help you ensure you set aside enough for premiums and deductibles, so there’s no surprise later. It’s an important part of long-term budgeting and planning. Use Money Help Center free calculators today to work out the numbers — our calculators are unbiased and there’s no obligation in using them.

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