How Much Life Insurance?
How Much Life Insurance Do I Need?
Here is a simple worksheet to get an estimate.
Funeral, plot and marker $_________
Doctor and hospital bills $_________
Debt liquidation $_________
Estate settlement costs(estimate 5 percent) $_________
This income will allow your family to adjust
gradually to a new standard of living. $_____________________
Today’s 35-year-old is 19 times more likely to die within the next 30 years than lose his or her home to fire or another disaster.
Length of mortgage________ years $_____________________
Cash may be needed for:
- Hospital or doctor bills
- Home repairs
- Necessary trips, taxes, etc. $______________________
Average yearly costs for tuition, room and board (The College Board Annual Survey of Colleges, 1998)
Public universities $7,505
Private universities $17,420
Public junior colleges (tuition and fees, only) $1,587
Private junior colleges $12,063
Money to provide the necessities
Annual Family needs $__________
Special needs $__________
(Special education for children, assistance for dependent parents)
Income From Social Security $__________
Spousal income $__________
Balance needed $__________ income for _____ years = $_________________
Summary of needs if you die
Total amount at risk $________________
Existing coverage – $________________
Amount needed $____________________
Summary of needs if you live
Retirement at age____
Income goal $_________
Social Security $_________
Other sources $_________
Total per month $_________
We help individuals with their annuities, and term and whole life insurance needs in the North Texas area including the cities Burleson, Fort Worth, Crowley, Arlington, Pantego, Dalworthington Gardens, Benbrook, Lake Worth, Azle, Grapevine, Southlake, Keller, Hurst, Euless, Bedford, and Mansfield.