Insurance Needs Calculator

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step may require the purchase of a life insurance policy to ensure that your family's needs will continue to be met, even after your untimely death cuts your earnings potential short.

• Calculator Input
• Results

* required

Age, Income and Assumptions

1. Your current age * (1-85)
2. Spouse's current age (if applicable)
3. Current annual income * ($)
4. Spouse's annual income ($, if applicable)
5. Spouse's desired retirement age (if applicable)
6. Investment return: (%)
7. Anticipated inflation rate: (%)

Immediate Cash Needs

1. Funeral expenses ($)
2. Final expenses ($)
3. Mortgage balance ($)
4. Other debts ($)

Long-Term Income Needs

1. Desired annual income needs * ($, typically 70-80% of current combined income)
2. Number of years income is needed *
3. College needs ($)

Available Resources

1. Investment assets ($)
2. Existing life insurance ($)
3. Include social security benefits? Y N
4. Age of oldest child under 18
5. Age of second child under 18
6. Age of third child under 18
7. Age of fourth child under 18

Calculating Results...

Needs
Immediate Needs	Label
Long-term needs	Label
Total needs	Label
Resources
Investment assets	Label
Life Insurance Proceeds	Label
Spouse's Earnings	Label
Social security	Label
Total resources	Label
Shortfall	Label
Additional life insurance needed	Label

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