Calculate My Life Insurance Needs

LIFE INSURANCE NEEDS ANALYZER
Calculate How Much Life Insurance You Need
Part I: Family Income Replacement
Family Income	Your Gross Income
	Spouse's Gross Income	+
	Other Gross Income	+
	Total Gross Income	=
Income to Be Replaced	How much income will your family need to live comfortably? (Typically 80% of your gross income)	X	%
	Total Replacement Income Needed	=
	Available Income (spouse's income, social security, etc)	-
	Net Replacement Income Needed	=
	Expected Rate of Return (5%)	/	%
	Assets needed to produce Net Replacement Income	=
Available Investable Family Assets	Savings
	Investment Portfolio	+
	Current Life Insurance	+
	Other Assets	+
	Total Available Investable Family Assets	=
Life Insurance Needed for Income Replacement	(Subtract Total Investable Family Assets from assets needed for Net Replacement Income
Part II: Debt, College, and Other Funding Needed
Debt Repayment	Mortgage
	Auto Loan	+
	Consumer Debt	+
	Other Debt	+
	Total Debt	=
College Funding	No. of kids ages 0-9 0 1 2 3
	Cost of sending your 0-9 year old(s) to college
	No. of kids ages 10-14 0 1 2 3
	Cost of sending your 10-14 year old(s) to college	+
	No. of kids ages 15-19 0 1 2 3
	Cost of sending your 15-19 year old(s) to college	+
	Total cost of sending your child/children to college	=
Other Expenses	Funeral (typical cost of a funeral is approx. $5,000
	Special Bequests	+
	Other Expenses	+
	Total Expenses	=
Total Insurance Needed	Total Additional Expenses (Add Debt, College, and Other)
	Income Replacement Insurance Needed (from Part I)	+
	Total Life Insurance Needed (add together)	=

LIFE INSURANCE NEEDS ANALYZER