1. Annual Income Needed (Each 12-Month Period) |
|
Mortgage/Rent (total monthly payments, real estate taxes, home repairs and improvement, furniture, etc.) |
|
Utilities/other home expenses |
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Food, medicines |
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Clothing |
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Transportation (car payments, gas, repairs, bus, etc.) |
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Child care (day care, sitters, other) |
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Other (such as entertainment) |
|
Total Annual Income Needed |
0 |
2. Sources of Annual Income of Surviving Spouse |
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Annual income of surviving spouse/other family member |
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Annual earnings (investments, earnings on savings, etc.) |
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Other (Social Security, pension, etc.) |
|
Total Source of Annual Income |
0 |
Subtract Total Sources of Annual Income from Total Annual Income Needed (Section 1 Total minus Section 2 Total) |
0 |
Multiply Number of Years You Would Like to Provide Support |
years |
3. Total Income Needed by Family |
0 |
4. Lump-Sum Expenses Needed (What you want/need to pay off) |
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Mortgage |
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Funeral |
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Medical |
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Estate costs, federal and state taxes |
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Debts to be paid off (credit cards, loans, etc.) |
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Education (total education costs for all children) |
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Other (support of aging family members, etc.) |
|
Total Lump-Sum Expenses |
0 |
Total Coverage Needed Add Total Income Needed by Family + Lump-Sum Expenses Needed (Section 3 Total plus Section 4 Total) |
0 |
Subtract Current Coverage Held (Group Basic Term Life, etc.) |
|
Total Additional Term Life You Need to Purchase |
0 |
