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Needs Analysis

How Much Life Insurance Do I Need?

Enter your information below. Every major section calculates its own total immediately, and all six section totals are then added together for the final life insurance need.

Life Insurance Needs Analysis

About You

Full Name

Phone

Annual Income

Age of Youngest Dependent

Your Six Major Needs

Each blue box below is the subtotal for that specific category.

1. Final Expenses

Experts commonly recommend approximately $20,000–$25,000 for final expenses such as funeral costs, taxes, medical bills related to the passing, legal or estate costs, and other immediate expenses.

Funeral / Burial / Cremation

Medical / Legal / Final Bills

Family Transition / Emergency Cash

Other Immediate Expenses

Calculated Final Expenses Total

Funeral + Medical/Final Bills + Transition Cash + Other Immediate Expenses

2. Guaranteed Income Replacement

Experts commonly recommend approximately 4–6 times annual income for income replacement planning.

Annual Income to Protect

Income Replacement Multiple

Years Family May Depend on Income

Calculated Final Expenses Total

Annual Income × Selected 4×, 5×, or 6× Multiple

3. Mortgage Elimination

Experts commonly recommend approximately 4–6 times annual income for income replacement planning.

Mortgage Payoff Balance

Years Remaining on Mortgage

4. Other Personal Debts

Vehicle Loans

Credit Cards

Personal / Student / Other Loans

Other Personal Debt

Calculated Other Debts Total

Vehicle Loans + Credit Cards + Personal/Other Loans + Other Debt

5. College / Education

Desired Amount per Child

Number of Children

Education Savings Already Set Aside

Calculated College / Education Total

(Amount per Child × Number of Children) − Education Savings Already Set Aside

6. Business Debt & Expenses to Be Covered in Case of Death

Business Loans / Lines of Credit

Lease / Equipment Obligations

Operating / Payroll Reserve

Transition / Replacement / Other Business Expenses

Calculated Business Needs Total

Business Debt + Lease/Equipment + Operating/Payroll Reserve + Transition/Other Expenses

Existing Life Insurance

Individual Life Insurance

Employer / Group Life Insurance

Other Available Death Benefits

Final Life Insurance Needs Analysis

These are the six category totals being added together.

Final Expenses

Income Replacement

Mortgage

Other Debts

College / Education

Business Needs

TOTAL LIFE INSURANCE NEED

EXISTING LIFE INSURANCE

ESTIMATED ADDITIONAL COVERAGE NEEDED

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