How much Life Insurance do you need?
If something were to happen to you today, what liquidity would your family
require to remain financially intact? The Insurance Calculator is a quick way
to determine the adequacy of your present insurance.
Though it does not take into account the benefits of investment interest,
neither does it include the negative effects of inflation or taxes. For a more
detailed look at your insurance needs, contact your Financial Network/Credit
Union Registered Representative.
|
 Step 1. Evaluate Your Income and Assets |
| What is your current income?
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$
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| How many years will your spouse need your annual
income?
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| Current investment income (Rental Properties,
Dividends, Annuities, etc.)
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$
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| Existing liquid assets - All assets that can be turned
into cash within 3 months (We recommend you not liquidate retirement accounts
due to tax penalties)
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$
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| The amount of your existing life insurance coverage |
$
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| Step 2. Evaluate Your Debts and Expenses
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| Outstanding mortgage balance: |
$
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| Outstanding loans: |
$
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| Final expenses: (Medical, Funeral, Taxes) |
$
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Step 3. Evaluate Your Child Support and College Expenses
*We suggest an average annual tuition cost of $15,000 - $20,000 per year
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