Insurance Needs Analysis How much life insurance do you need? Please use numbers only, no commas when completing fields. Step 1. Evaluate Your Income and Assets What is your current income? $ How many years will your spouse need your annual income? 1 Year2 Years3 Years4 Years5 Years6 Years7 Years8 Years9 Years10 Years15 Years20 Years25 Years30 Years Current investment income (Rental Properties, Dividends, Annuities, etc.) $ Existing liquid assets – All assets that can be turned into cash within 3 months (We recommend you not liquidate retirement accounts due to tax penalties) $ The amount of your existing life insurance coverage: $ Step 2. Evaluate Your Debts and Expenses Outstanding mortgage balance: $ Outstanding loans: $ Final expenses: (Medical, Funeral, Taxes) $ Step 3. Evaluate Your Child Support andCollege Expenses *We suggest an average annual tuition cost of $15000 – $20000 per year Child: Monthly child cost: Years child will require support: College expenses: 1 $ years 2 $ years 3 $ years 4 $ years 5 $ years Additional Recommended Life Insurance: $
