Please enter the
following information, without commas or dollar signs:
All numbers are rounded to the nearest dollar.
What is your annual
income?
Your spouse's annual
income?
Total annual income:
Step 1:
Estimate the amount needed upon your death to cover
expenses:
A. Final expenses: % of Annual Income*
Medical/hospital
costs
Funeral
Attorney/executor
fees
Probate costs
B. Emergency Fund: % of Annual Income*
Major home repairs
Auto Repairs
Medical Emergencies
C.
Childrens Education
Education cost per child
For how many children?
D. Mortgage Balance
E.
Debt Repayment
Auto loans
Home equity loan
Credit card balances
Other
Car loan
Home equity loan
Credit card #1
Credit card #2
Other balances
F.
Annual dependent/home care expenses: % of Annual Income*
Care for dependents
Home Maintenance
Food/Clothing
Total amount per year
For how many years?
Rate of inflation*
%
Total Needed
- Add Sections A through F:
Step 2:
Estimate
the amount of existing assets:
Existing Life Insurance
Cash & Savings
Other liquid assets
Total available
liquid assets & insurance:
Step 3:
Calculate
Additional Life Insurance Needed
Total Cash Needs
(from Step 1)
Minus total available
assets & existing life insurance (from Step 2)
Additional Life
Insurance Needed:
*Please note: The Percent of Annual Income and Rate of Inflation assumptions are incorporated in the calculation. You may enter your own data and override these assumptions to gain an even more personalized analysis.
