1. Final Expenses $ Include appropriate amounts for items such as funeral costs, final medical bills not covered by insurance and estate administration costs.  2. Debts $ Enter the current balance of all debts which may need to be paid in full at death, such as mortgages, credit cards, car loans, student loans, etc.  3. Current Bills and Emergency Fund $ Generally, it is recommended that 4-6 months income should be set aside to meet the family's immediate daily living expenses and to create a liquid emergency fund.  4. Education Fund $ If you know the approximate amount you want to set aside for the education of your children enter it here, or you can use college funds calculator and return to this worksheet afterwards.    Total Cash Need:

Ongoing Family Income Needs

	5. Annual Income Objective $ Enter the annual gross income your family will need to supplement income receivable from existing sources following the death of a spouse. Generally, it is estimated that a family will require 60% - 80% of prior total income following the death of one spouse.  6. Years of Income Need  7. Existing Liquid Assets Available $  8. Death Benefit Provided by Existing Life Insurance $    Total Additional Death Benefit Need:

Note: the calculator assumes the standard rate of inflation of 3% and interest rate of 6%. If you want to make calculations more accurate, enter current rate of inflation: % and interest rate: %.