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Part 1 Covering
Final Expenses
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Funeral
Expenses
This expense is, of course, very subjective to both the wishes and tastes
of your family and any provisions you yourself may have made prior to
dying. According to statistics kept by the funeral industry, current costs
average $10,000. |
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select your estimated funeral expenses: |
$.00
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Mortgage
Most monthly mortgage statements provide a "pay-off amount, which
includes the remainder of the principal and interest due. If you have
your statement handy, please enter the number below. If not, please estimate.
You should plan on carrying enough life insurance to allow your family
to burn the mortgage |
| Please
enter your mortgage pay-off amount: |
.00 |
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Loans and Debts
This number should
include debts outside of the mortgage- credit cards, automobiles, personal
loans etc...If you already carry a form of insurance that covers a given
debt, do not include that number in your total.
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| Please
enter your total estimated debt:$ |
.00 |
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Day
to Day Expenses
Groceries, gasoline, clothing and other items which your family consumes
as a matter of course. It is safe to assume that you will need to provide
for at least several months of these expenses while your family adjusts
to life without you. |
| Enter
your estimated day to day expenses for several months: |
.00 |
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Children's
Education
$10,000 per child per year is typical for college education |
| Enter
total estimated education expenses: |
.00 |
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Income
Taxes
Federal income taxes are collected for income earned the year of your
death. |
| Enter
total estimated education expenses: |
.00 |
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Rainy
Day Fund
Most financial planners recommend that you have an amount equal to six
months worth of salary set aside to handle unforeseen events. |
| Enter
your "rainy day" amount according to your current income: |
.00 |
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Part 2 Continued Standard of Living Guide |
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Annual
Income
After your death, how much annual income do you wish to provide for your
family. 70% of current income is typically selected |
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| Numbers
of years you would like this income to be provided. Perhaps until your
spouse retires or your children are independent. |
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| Interest
Rate |
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Part 3 What You Currently Have In Place |
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Existing
Insurance
Mortgage insurance, life insurance |
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Liquid
Assets
Cash, investments |
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.00 |
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Company
and Government Benefits
Pensions and other sposored benefits |
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.00 |
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Other
Income producing assets. |
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.00 |
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Your estimated life insurance insurance amount:
Please click here to create a quote request for this amount.
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