Determine how various insurance options can fit into a personal financial plan appropriate to various life stages and circumstances.

Step #1: Estimate your family income/situation in 5 years: Two Income? Children? Homeowner? Ages of all members

Step #2-A Determine the types of insurance you will require: Home? (Purchase Price/Value) o Heat Type o Location (Urban/Rural Fire Hydrant distance, distance to work) o Coverage required o Estimated cost per year

Auto(s)? (Make, model, year) o $ Amount of Coverage required o Collision Coverage required/not required o Estimated cost per year

Life? (Ages) o Coverage type (Term, Whole Life) o Amount Required o Estimated cost per year

Step #2-B Determine the amount of Life Insurance needed using the Income AND Family method o Calculate Coverage required using Income Method o Calculate the coverage needed using the Family Need Method

Step #3 Any Other Insurance required? Travel? Health? Disability? Etc...