How much Life Insurance do you
need?
If something were to happen to you today, what
liquidity would your family require to remain financially intact?
The Insurance Calculator is a quick way to determine
the adequacy of your present insurance.
Though it does not take into account the benefits
of investment interest, neither does it include the negative effects
of inflation or taxes.
Feel secure filling out the form below. The calculator contained
within the page, and the results at the bottom of this page will
change as you answer each question. Your information never leaves
your computer.
|
Step 1. Evaluate Your
Income and Assets
|
| What
is your current income? |
|
| How many years
will your spouse need your annual income? |
|
| Current
investment income (Rental Properties, Dividends,
Annuities, etc.) |
|
Existing
liquid assets - All assets that can be turned
into cash within 3 months
(We recommend you not liquidate retirement accounts due to tax penalties)
|
|
| The
amount of your existing life insurance coverage: |
|
Step 2. Evaluate Your
Debts and Expenses
|
| Outstanding
mortgage balance: |
|
| Outstanding
loans: |
|
| Final
expenses: (Medical,
Funeral, Taxes) |
|
Step 3. Evaluate Your
Child Support and College Expenses
|
| We suggest an average
annual tuition cost of $15,000 - $20,000 per year |
|
|
|
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