Life Insurance Calculator

How the AidaForm Life Insurance Cost Calculator Works

So how to calculate life insurance? One can do it manually, but it’s much easier to use a built-in online tool. Website visitors are first asked a few basic questions about the desirable annual amount, dependents and the number of years for their support.

The following questions clarify the reason for obtaining life insurance: is it mainly to cover college tuition, replace the primary source of income, pay off a substantial debt or mortgage or give them some extra financial support to be more secure and independent? In case of a combination of factors, you add all the relevant numbers for the final coverage amount. Lastly, there’s a question about burial expenses.

Of course, more elements can help estimate life insurance, and you can easily include them in your form or replace the ones suggested in the template.

Here are some more questions you may consider for the coverage amount calculation:

• Client’s annual income - it’s another way of asking about the desirable yearly amount of coverage.
• Client’s current savings, which may include deposits, stocks and other financial assets like a retirement savings account.
• Type of insurance: whole life insurance, or term life insurance and its multiple types, like the level term, yearly renewable term, return of premium, and decreasing term policies.

If you have a webpage with the details about your offer and available plans, you can link to it directly from the form or provide a short explanation to be transparent. But keep in mind that your primary goal is to make a visitor submit the form and share their contact information, so you don’t want to lose them in the process by sending them to a different page.

When your potential clients fill in all the questions in the form, they click the Get Results button and get the amount of life insurance needed and the contact form to get a quote. It’s kept simple and includes just the first name, last name, and email address to maximize the number of people reaching out to you for further details and personalized insurance costs, which, in its turn, depend on other factors like the client’s age, health, habits, and occupation. You can also request a telephone number if this is your preferred form of contacting your prospects.

Once a visitor clicks Get a quote, all of the answers, including their contact info, are safely stored in your AidaForm account. Go ahead and reach out to them to complete the deal.

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