Life Cover Estimate

Income

1. Total annual income your family would need if you died today
What your family needs, before taxes, to maintain its current standard of living
(Typically between 60% - 75% of total income)

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2. Annual income your family would receive from other sources
For example, spouse’s earnings or a fixed pension.1 (Do not include income earned on your assets, as it is addressed later in the calculation)

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3. Income to be replaced
(1 + 2)

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4. Capital needed for income

1.00 Years

Expenses

5. Funeral and other final expenses
Typically the greater of $15,000 or 4% of your estate

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6. Mortgage and other outstanding debts
Include mortgage balance, credit card balance, car loans, etc.

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7. Capital needed for college
(2016-2017 average 4-year cost: Private $181,480; Public $80,3602)

Estimated 4 year cost

Years Before College

1.00 Years

NPV

1.00 Years
1.00 Years

8. Total capital required

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Other Income

9. Savings and investments
Bank accounts, money market accounts, CDs, stocks, bonds, mutual funds, annuities, etc.

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10. Retirement savings
IRAs, 401(k)s, SEP plans, SIMPLE IRA plans, Keoghs, pension and profit sharing plans3

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11. Present amount of life insurance
Including group insurance as well as insurance purchased on your own

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12. Total income producing assets


13. Life insurance needed


14. Your Email Address

Field is mandatory

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