Calculate The Approximate Amount of Life
Insurance You Need

Step 1) Evaluate Your Assets and Income

Enter current income

$

Number of years your partner will need your annual income

 

Present income from investments (Rental Properties, Annuities, Dividends, etcetera)

$

Present liquid assets - All assets that can be liquidated within 3 months
(We suggest you not liquidate retirement accounts because of IRS tax penalties)

$

The face amount of your current life insurance policy(s):

$

Step 2) Evaluate Your Expenses and Debts

Your mortgage balance:

$

Any outstanding loans:

$

Final expenses: (medical, funeral, taxes)

$

 

Step 3) Evaluate College Expenses and Child Support
*We suggest an average annual tuition cost of $16,000 to $21,000

Child: Monthly child cost: Years child will require support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Recommended Additional Life Insurance: $