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While everyone's insurance needs are different, you can get an idea of the amount of term life insurance that may be right for you by adding together the following items:

1. The annual income you would need to maintain your family's standard of living multiplied by the number of years you think your family would need this assistance.
2. Your total debt. This includes debt from your outstanding mortgage, credit cards and personal loans.
3. Your children's future educational costs. Current 2008 to 2009 guidelines for a moderate college budget including tuition fees, room and board for a four year private school is approximately $136,572 per child. The guideline for public colleges is $57,140 per child.
4. The amount of money you would like to set aside for emergency and unexpected expenses. These could be funeral and estate settlement costs, medical bills, etc. Typically this figure is the greater of $15,000 or 4% of your financial assets.

After you have added up items one through four, subtract the face value of any existing life insurance coverage you have and your non-retirement financial assets.

The resulting number is an approximation of your current insurance needs. Click Apply Online, get coverage, if you qualify for term life insurance, in a few easy steps.

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This information is not intended to provide professional advice and should not be relied upon in that regard. Figures are indicative only, no consideration is given to your individual circumstances or needs. Persons accessing these pages are advised to obtain appropriate professional advice where necessary.

NOT a deposit, NOT FDIC insured, NOT insured by any U.S. government agency, NOT guaranteed by the Bank. Insurers: Household Life Insurance Company, home office Detroit, MI, form HLI-8-132, or First Central National Life Insurance Company of New York, home office NY, NY, form CNY-8-815; administrative offices: Bridgewater, NJ; trade name: "HSBC Insurance". See policy for exclusions & limitations. Not sold in all states.