Life insurance is a contract between an insurance company and an individual who wishes to impact someone else's financial well-being. Policyholders make contributions called premiums which the insurance company pools to pay death benefits when various policyholders die.
The plan compensates for the economic consequences which hit the dependents after someone's demise. A life insurance calculator is useful when determining the amount of coverage you'll require.
The calculator considers your situation and computes a custom quote which suits your needs. It guides you not to overpay or to buy less than you should.