| Income |
|
1. Total annual income your family would need if you died today.
What your family needs, before taxes, to maintain its current standard of living,
Typically 60 - 75% of total income. If the question does not apply, provide "0." |
$
|
2. Annual income your family would receive from other sources.
Dividends, interest income, spouse's earnings, social security. If the question does not apply, provide "0." |
$
|
3. Income to be replaced.
automatically calculated - subtract line 2 from line 1. |
$
|
| 4. Years income needed. |
Years |
Capital needed for income.
automatically calculated - multiply line 3 by appropriate factor provided by years needed. |
$
|
|
| Expenses |
|
5. Funeral and other final expenses.
The average cost of an adult funeral is about $6,130. If the question does not apply, provide "0." |
$
|
6. Mortgage and other outstanding debts.
Including mortgage balance, credit card debt, car loans, etc. If the question does not apply, provide "0." |
$
|
7. College costs for each child in today's dollars.
2001-2002 average 4-year costs; state college-$47,904 (in-state resident),
private college-$104,280 (resident). If the question does not apply, provide "0." |
$
|
| 8. Years before college |
Years |
Capital need for college
automatically calculated - multiply line 7 by appropriate factor provided by years before college. |
$
|
9. Total capital required
automatically calculated - add lines 4, 5, 6, and 8. |
$
|
|
| Assets |
|
10. Savings and investments
Bank accounts, money market accounts, CDs, stocks, bonds, mutual funds, etc. If the question does not apply, provide "0." |
$
|
11. Retirement savings
IRAs, 401(k)s, Keoghs, pension and profit sharing plans. If the question does not apply, provide "0." |
$
|
12. Present amount of life insurance
Include group insurance as well as insurance purchased on your own. If the question does not apply, provide "0." |
$
|
13. Total income producing assets
automatically calculated - add lines 10, 11, and 12. |
$
|
