Many people choose too much or too little life insurance coverage. Too much coverage means higher than necessary premiums. Too low will result in your family scrambling to make ends meet if something should happen to you. Completing this worksheet will give you an amount that you can feel confident about.

Expected Needs

___________    Final expenses (medical out of pocket amount + funeral expenses)

___________   Outstanding debts (excluding mortgage)

___________    Mortgage balance

___________    College funding needs for your children

___________    The amount of annual income your family requires X the number of years    

                          needed (Remember that this value assumes no current debt or mortgage.)

Expected Income

___________    Spouses annual income after taxes X number of years spouse expects to work

___________    Total expected income from any investments (after taxes)

___________    Total value of savings (include retirement accounts)

___________    Total Expected Income

Total