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Calculate The Estimated Amount of Additional Life
Insurance Needed

Step 1) Enter Your Assets and income

Fill in your present income

$

# of years your partner will require your annual income

 

Current income from investments (rental properties, annuities, dividends, etc.)

$

Current assets (liquid) - All of your assets that can be cashed out within a few months
(We recommend you not liquidate retirement accounts because of IRS excise tax penalties)

$

The face amount of coverage of your present life insurance:

$

Step 2) Enter Your Expenses and Debts

Outstanding mortgage balance total:

$

Any outstanding loans:

$

Projected final expense costs: (medical, funeral, taxes etc.)

$

 

Step 3) Estimate College Expense and Child Support
*We suggest an average yearly tuition cost of about $15,000 to $20,000

Child: Monthly child cost: # of years children will need support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Estimated Additional Life Insurance Needed: $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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