Life Needs Estimator

(print out for your private use)

Death Expense + short-term debt                                   + $                                          

  (Funeral expenses, auto loans, credit cards, etc.)

 

Income Replacement-

            a)  Annual Income $                             

            b)  # of years replacement?                  

                                               

                                    Total =  a x b                            + $                                          

 

 

Mortgage Pay-off                                                         + $                                          

  (First and second mortgages, home equity loans)

 

Educational Expenses-

a)      Number of Children            

b)      Average Annual Tuition= $27,500*

 

Total= a x b x 4 years                + $                                          

 

 

Other                                                                            + $                                          

 

Total Life Insurance Face Amount                           =  $                                          

 

 

 

This form is intended as a basic guide only.  It should only be used in conjunction with a total financial needs evaluation.  Individual life insurance needs may vary widely. You may wish to consult with a Certified Financial Planner or Attorney prior to purchasing any financial or life products.

 

* CNN/Money, October 19, 2004.