Death Benefit Calculation Calculator
Calculate the total death benefits available to a surviving spouse or beneficiary from all sources — life insurance, Social Security survivor benefits, pensions, retirement accounts, and more. Understand whether your family would be financially secure.
Life Insurance Benefits
Ongoing Survivor Income
Retirement Accounts & Other Benefits
Outstanding Debts
Survivor Needs
Survivor Financial Security Score
Your family has strong financial protection. Death benefits and ongoing income streams should provide adequate support for the survivor's needs.
Total Death Benefits
$1,195,000
Monthly Survivor Income
$9,083
Total Death Benefits
$1,195,000
all sources combined
Monthly Survivor Income
$9,083
ongoing + investment income
Years of Expenses Covered
25 years
of 25 needed
Benefit Gap
-$124,810
additional coverage needed
Survivor Financial Resources Over Time
Lump sum assets depleting alongside ongoing income streams
Death Benefit Sources Breakdown
Where the survivor's financial support comes from
Total
$2,095,000
Term Life Insurance
24%$500,000/yr
Permanent Life Insurance
5%$100,000/yr
Employer Life Insurance
8%$170,000/yr
SS Survivor Benefits
32%$660,000/yr
Pension Survivor Benefits
11%$240,000/yr
Retirement Accounts
20%$425,000/yr
Monthly Survivor Income vs Expenses
Breakdown of income sources compared to monthly living costs
Year-by-Year Survivor Financial Projection
Detailed breakdown of income, expenses, and remaining assets each year
| Year | SS Survivor | Pension | Withdrawals | Total Income | Expenses | Remaining Assets |
|---|---|---|---|---|---|---|
| 1 | $46,200 | $9,600 | $10,200 | $66,000 | $66,000 | $929,490 |
| 6 | $49,354 | $9,600 | $17,558 | $76,512 | $76,512 | $1,162,950 |
| 11 | $53,010 | $9,600 | $26,089 | $88,699 | $88,698 | $1,430,161 |
| 16 | $57,248 | $9,600 | $35,978 | $102,826 | $102,826 | $1,735,339 |
| 21 | $26,400 | $9,600 | $83,203 | $119,203 | $119,203 | $1,972,539 |
| 25 | $26,400 | $9,600 | $98,164 | $134,164 | $134,164 | $2,087,209 |
Personalized Insights
Actionable recommendations based on your numbers
Life insurance covers 9.1x annual salary
Financial advisors generally recommend 10-15x your annual salary in life insurance coverage. Your current coverage of $770,000 represents 9.1 years of income replacement. Consider increasing coverage to close the gap.
Social Security survivor benefit rules to know
A surviving spouse can claim survivor benefits as early as age 60 (50 if disabled), but benefits are reduced before full retirement age. At FRA, the survivor receives 100% of the deceased's benefit. Each dependent child under 18 can also receive up to 75% of the benefit, subject to the family maximum (150-180% of the worker's benefit).
Pension survivor benefit adds $800/month in guaranteed income
The pension survivor benefit of $800/month provides reliable income that cannot be outlived. Over 25 years, this totals $240,000. Ensure you elected the joint-and-survivor option — once waived, it typically cannot be added later.
Review beneficiary designations on all accounts
Beneficiary designations on life insurance, 401(k), IRA, and annuity accounts override your will. Outdated designations (such as an ex-spouse) can result in benefits going to the wrong person. Review and update designations after any major life event — marriage, divorce, birth of a child, or death of a beneficiary.
Retirement account distributions will incur ~$77,000 in taxes
The $350,000 in pre-tax retirement accounts (401(k)/traditional IRA) will be taxed as ordinary income when the beneficiary takes distributions. A surviving spouse can roll these into their own IRA and spread distributions over their lifetime to minimize the tax impact. Life insurance proceeds, by contrast, are generally income-tax-free.
Coverage gap of $124,810 over 25 years
Based on current benefits and projected expenses, there is a shortfall of $124,810. To close this gap, consider increasing life insurance by $124,810, reducing debts, or lowering projected expenses. Term life insurance is typically the most cost-effective way to increase coverage.
Review your death benefit coverage annually
Life insurance needs change as your family grows, debts decrease, and savings accumulate. Review coverage after major life events: marriage, birth of a child, home purchase, salary increase, or approaching retirement. As your net worth grows, you may need less life insurance since savings can replace coverage.