Living Costs

Day-to-day Living Expenses (use 75% of current net income)

$                annually   x            years

Child Care Expenses

$                annually   x            years

Education Spending  

$                annually   x            years

Major Purchases (car, home repairs)

$                annually   x            years

Estate and Funeral Expenses

Total Living Costs (A)

=   $

=   +

=   +

=   +

=   +

=   $

Available Resources

Cash and Savings

Retirement Savings (IRA, 401(k), etc.)

Stocks and Bonds (at current market value)

Spouse Income (multiply by 60%)

$               annually   x             years

Other Assets

Total Available Resources (B)

=   $

=   +

=   +

=   +

=   +

=   $

Life Insurance Need

Total Living Costs (A)

Less Total Available Resources (B)

Equals Life Insurance Need

=  $                     (A)

-   $                     (B)

=  $