( if you want a PDF file of the Life Insurance Needs Estimator, Please go to the end of this page and clik the file for download:)
LIFE INSURANCE NEEDS ESTIMATOR
PART ONE
FINAL EXPENSES
(Estimate $6,000 to $12,000. Individual with large estates should consult with a tax consultant)
Medical Expenses
Funeral Expenses
Estate Administration
DEBT REPAYMENT
| Car Loans |
__________________ |
| Home Improvement Loans |
__________________ |
| Credit Cards |
__________________ |
| Miscellaneous Loans |
__________________ |
TOTAL |
__________________ |
HOME ASSURANCE
| Balance on Mortgage |
__________________ |
| Rent Payment Due |
__________________ |
TOTAL |
__________________ |
EDUCATION FUND
| College Costs |
__________________ |
| Number of Children |
X |
__________________ |
TOTAL |
__________________ |
FAMILY LIVING EXPENSES
(Estimate 50-70% of your income)
Food/Clothing
Utilities
Home/Auto Maintence
Property Taxes
Routine Medical Expenses
Insurance Premiums
Entertainment/Recreation
New Household Furniture and Decoration
Vehicle Replacement
| Annual Total |
__________________ |
| Number of years needed |
X |
__________________ |
TOTAL |
__________________ |
TOTAL PART ONE |
$_________________ |
PART TWO
CURRENT LIFE INSURANCE AND LIQUID ASSETS
| Personal Life Insurance |
$_________________ |
| Employer Sponsored Life Insurance |
$_________________ |
| Checking & Savings Accounts |
$_________________ |
| Other Liquid Assets |
$_________________ |
TOTAL PART TWO |
$_________________ |
PART THREE
ADDITIONAL LIFE INSURANCE NEEDED
| Total Part One |
$_________________ |
| Subtract Part Two |
- |
$_________________ |
Additional Life Insurance
Needed |
$_________________ |
