70,000

LE B B T U- V E H aste pboard F Font Alignment FS Number -X fx CDE GHI J KLM N O P RKSHEET Worksheet for Estimating Life Insurance Needs (continued) Total Dependency Expenses or Money in Today's Dollars Needed for Dependency Expenses (assuming the children have n years until they become self- supporting and you can earn an after-tax and after-inflation return on your investments) (line w x PVIFA in yr) (line w x PVIFA_%. _yr) - (line w x HECH 88 F5 Hakika Styles R Cell Styles Step 3: Immediate Transitional Funds Schooling Expenses for Surviving Spouse Child Care and Housekeeping Expenses Other Transitional Needs n +0. $50,000 $20,000 + . $5,000 = Total Immediate Transitional Funds (add lines n through p) Step 4: Dependency Expenses (family needs while children a school and dependent on family support) Current Household Expenses (estimated as income less savings) T $70,000 does this Less Deceased's Expenses (estimated as 30% of line r if surviving family includes only one member, 26% for a surviving family of two, 22% for a surviving family of three, and dropping 2% more for each additional family member) $ $14.000 One appro Less Spousal Income t $40.000 U $10,000 Less: Social Security Survivors Benefits Less Pension Benefits and Income M. $15.000 Equals Income to be Replaced Until Children Are Se-Supporting (line r-liness through v W $9.000 (contin Estimating Life ins Page 2 Estimating Life Ins Page 1 bility Good to go ? S BE N 40 3 2 W # E S 4 R % 5 A T 6 Step 7: Retirement Income Additional Desired Annual Income at Retirement bb. Total Retirement Income or Money in Today's Dollars to Provide for Desired Retirement Income (assuming retirement in m years and desiring the additional income for p additional years, and assuming can earn i% after-tax and after-inflation return on your investments) (line bb x (PVIFA, myr-PVIFA- th, line bb x (PVIFA PVIFA (line bb x ( =CC Step 8: Total Funds Needed in Today's Dollars to Cover Needs Total (lines hmqx+z+aacc) dd $243 480 Step 9: Assets and Insurance Available to Cover Needs Cash from Current insurance Policies ee t Retirement Savings and Investments Other Assets 99 Total Assets (add lines eeff-g9) hh. 50 Step 10: Additional Insurance Needs Additional insurance Needs (line dd-line hh) Estimating Life is Page 1 Estimating Life by Page 2 y God to ge # 2 3 S E D 4 R F * 5 T