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Immediate Needs
Funeral Costs (Avg $10,000) _____________
Unpaid Medical Costs _____________
(A)Total Immediate Needs _____________
Readjustment Needs
Mortgage payoff _______________
Other Loans ________________
(car, student, home equity, credit card)
Cash Fund for Emergencies ______________
* Survivor Income ______________
(B)Total Replacement Needs ___________
* Consider one of these simple methods...
1) Determine how much annual income you will
need and divide it by a conservative interest rate. Example 4%
12,000 /
.04 = $300,000
Annual Income Interest Rate
Capital Needed
2) 5 to 7 times your annual gross income.
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Legacy Needs
College Fund(s) ______________
Charitable Gifting ______________
Retirement Fund _______________
Other _______________
(C)Total Legacy Needs ______________
Total Needs A + B + C ________________
Subtract Current Cash Resources
Existing Life Insurance ______________
Cash ______________
Investments _______________
Total Cash Available ______________
*Life Insurance Needed _______________
*(substract 'Total Cash Available' from 'Total Needs')
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