currently work. The Azinians have decided to use the needs analysis method to calculate the value of a life insurance policy that would provide for Nathan and their daughter in the event of Marissa's death.

Marissa and Nathan estimate that while their daughter is still living at home, monthly living expenses for Nathan and their child will be about $$2,900($in current dollars$).$ After their daughter leaves for college in $8$ years, Nathan will need a monthly income of $$2,600$ until he retires at age $65.$ The Azinians estimate Nathan's living expenses after $65$ will only be $$2,000$ a month. The life expectancy of a man Nathan's age is $82$ years, so the Azinian family calculates that Nathan will spend about $17$ years in retirement.

Using this information, complete the first portion of the needs analysis worksheet to estimate their total living expenses.

Life Insurance Needs Analysis Worksheet

Name of insured

Nathan and Marissa

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tep $1$: Financial

resources needed after

death

Annual living expenses and other needs

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