|
Income
|
|
| 1. Total annual income your family would need if you died today. Typically between 60-75% of your total current income: |
|
| 2. Annual income your family would derive from other sources (dividends, interest income, rental income, Spouse's income, etc.): |
|
| 3. Income to be replaced (Line 1 minus Line 2): |
|
| 4. Capital needed for income (Line 3X the factor in Table A): |
|
| Expenses |
|
| 5. Funeral and other final expenses (Average $6-8K): |
|
| 6. Mortgage and other debts (Car loans, credit card, etc.): |
|
| 7. College costs for each child (Avg 2007 public 4 yr = $54K): |
|
| 8. Capital needed for college (Line 7X the factor in Table B): |
|
| 9. Total capital needed (Add lines 4,5,6 and 8): |
|
|
Assets
|
|
| 10. Savings and investments (Bank accts, stocks, CD's, etc): |
|
| 11. Retirement savings (IRA's, 401(k)'s, etc): |
|
| 12. Present life insurance amounts (group, etc): |
|
| 13. Total income producing assets (Add Lines 10, 11 and 12): |
|
| 14. Line Insurance needed (Line 9 minus Line 13): |
|