Life Insurance Needs Estimator 
Adding up the liabilities: 
Amount required to pay off the balance of the mortgage (including penalties and legal commissions and fees) $ 
Amount required to pay off personal debts (including credit cards, personal loans, tuition loans , car loans, etc.) $ 
Emergency reserve fund (including funding for extraordinary medical expenses and a reserve for emergency and unexpected expenses) $ 
Final expenses (including income taxes, probate fees, lawyers' commissions and fees, accounting fees, other administrative commissions and fees and funeral costs) $ 
Immediate Cash Liabilities at Death $ 
   
Childrens' education fund
 
Number of Children child/children 
Cost per Year per Child $ 
Years Needed Per Child yrs. 
 
   
Total  (Childrens' education fund) $ 
   
Funding for replacement of lost income
 
income: $ 
Percentage of income
required for survivors (i.e. 90%)		 % 
Number of years over which
income continuation will be required		 yrs. 
Anticipated Interest expected
on investment of funds:		 %
Income is to be
indexed (for inflation)		 %

 

  
   
Total (Provision for income funding) $ 
   
TOTAL LIABILITIES:  $ 

 
 
Current Assets:
Liquid Assets: (Including bank accounts, mutual funds, certificates of deposit, stocks, bonds and cash)  $ 
Face (coverage) amount of all life insurance policies in force $ 
TOTAL OF CURRENT LIQUID ASSETS & IN-FORCE LIFE INSURANCE:  $ 


Total Liabilities (from above)
 $ 
minus
-
Total Assets (from above)
 $ 
equals
=
Additional life insurance coverage need estimate
 $ 

The amount shown in the yellow box is an estimate of the amount of life insurance coverage that you may need IN ADDITION to existing coverage that you have included under
Note:  A negative amount in the yellow box (a minus sign in front ot the amount) may indicate that you may be adequately covered for those liabilities and contingencies that you have included in the above estimate calculator