Insurance Needs Calculator Tool

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Insurance Needs Calculator Tool

Inspired by a conversation on:

The Stacking Benjamins Show

The Stacking Benjamins Show

Should You Drain Your Emergency Fund? (And 4 Other Money Questions Keeping You Up) SB1750

Host: Joe Saul-Sehy, OG, and Anna Allem

Timestamp: 00:10:11 - 00:21:10

Listen to Episode • View Podcast • All Ideas from The Stacking Benjamins Show

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Feather Flow

Direct Quote

"I would honestly look at your expenses... and say, if I don't ever work again, how much money do I need to have in my bank account every month to live the life that I'm living?"

Market Gap

People struggle to determine the right amount of life insurance needed.

Many individuals find it challenging to calculate how much life insurance coverage they truly require, often relying on generic rules of thumb that do not account for their unique financial situations. This can lead to either under-insurance, putting families at risk, or over-insurance, resulting in unnecessary costs. The insurance industry is often criticized for its complexity and lack of personalized tools to help consumers make informed decisions about their insurance needs. A tool that simplifies this calculation process while educating users on their specific needs would fill a significant gap.

Summary

The proposed business idea is to create an online tool that helps users calculate their life insurance needs based on their personal financial situations. This tool would ask users a series of questions regarding their debts, income, future expenses (like children's education), and other financial commitments. By utilizing algorithms and financial modeling, the tool could provide a personalized recommendation for the appropriate amount of life insurance coverage needed. This would empower users to make informed decisions and engage more confidently with insurance products, ultimately leading to better financial security.

Categorization

Business Model
SaaS
Target Founder
Subject Matter Expert
Difficulty
Medium
Time to Revenue
3-6 months
Initial Investment
$1,000-$10,000

Potential MRR (18-24 months)

Conservative
$1,500 - $4,000 MRR
Moderate (Most Likely)
$8,000 - $15,000 MRR
Optimistic
$30,000 - $50,000 MRR

* Estimates assume solo founder/bootstrap scenario with competent execution

Scores

Clarity
9/10
Novelty
8/10
Feasibility
7/10
Market Potential
8/10
Evidence
7/10
Overall
7.8/10
Found on October 20, 2025 • Analyzed on October 20, 2025 9:26 AM

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How should I validate this saas idea before building it?

2:34 PM

Great question! For a saas idea like this, I'd recommend starting with these validation steps:

  1. Customer interviews: Talk to Subject Matter Expert to understand their pain points
  2. MVP approach: Build a simple landing page to test demand
  3. Competitor analysis: Research existing solutions and identify gaps

Would you like me to help you create a specific validation plan for your medium difficulty idea?

2:35 PM

Yes, and what about the technical implementation? Should I build this myself or hire a team?

2:36 PM

Based on your idea's complexity and 3-6 months, here's my recommendation:

Technical Strategy:

  • Start with no-code tools for rapid prototyping
  • Consider your technical background and available $1,000-$10,000
  • Plan for scalability from day one

I can help you create a detailed technical roadmap and resource allocation plan...

2:37 PM

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Similar Ideas

Online Life Insurance Calculator Tool

An online tool that helps users calculate their life insurance needs can provide significant value to consumers. This tool would allow users to input their financial details such as income, debts, and number of dependents to receive a personalized recommendation on the amount of life insurance they should consider purchasing. Such a solution could improve financial literacy regarding life insurance and empower individuals to make informed decisions. The platform could also offer educational resources to explain the differences between term and whole life insurance, helping users understand the implications of their choices. Similar to the calculators mentioned in the episode, this tool could be integrated into existing financial platforms or offered as a standalone service.