Life Insurance Needs Planner

None of us like to consider dying but, in the real world, we need to plan for the ones we love. How would they pay for your home, cars, tuition and credit card bills if you were to pass away right now? Life insurance has long offered the financial security and sense of well being to address these matters, but how much insurance is the correct amount? This guide will help you find the answers to those questions. Just answer the questions as provided and the guide will do all the work. In addition, we've provided a Continued Standard of Living guide to help calculate how much money your family will need, on an ongoing basis, to continue to live as you have provided.

We suggest you complete both guides to optimize your understanding.

---

PART 1 - Covering Final Expenses
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 $10,000.
Please select your estimated funeral expenses:	1000 2000 5000 10000 15000 20000 25000 30000 35000 40000 45000 50000
Mortgage Most monthly mortgage statements provide a "pay-off amount, which includes the remainder of the principal and interest due. If you have your statement handy, please enter the number below. If not, please estimate. You should plan on carrying enough life insurance to allow your family to burn the mortgage
Please enter your mortgage pay-off amount:	.00
Loans and Debts This number should include debts outside of the mortgage- credit cards, automobiles, personal loans etc...If you already carry a form of insurance that covers a given debt, do not include that number in your total.
Please enter your total estimated debt:$	.00
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
Children's Education $10,000 per child per year is typical for college education
Enter total estimated education expenses:	.00
Income taxes Federal income taxes are collected for income earned the year of your death.
Enter total estimated education expenses:	.00
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
Click here to continue to Part 2 - Continued Standard of Living