Life Insurance Calculator Help
Assets include cash and items that could be easily converted to cash, such as stocks, bonds, vacation property, personal property, etc. Do not include personal residence.
Both individually owned (personal) life insurance and that provided by your employer (group).
Outstanding balance on loans for your primary residence, including any second mortgages or home equity loans/lines.
Credit card balances, automobile loans, student loans, personal loans, etc.
Funeral expenses, plus unpaid bills (i.e., medical care, taxes). $10,000 is generally the minimum amount of final expenses.
Dependents include your children or any persons for whom you provide care.
Monthly Dependent Care Expenses:
Total monthly dependent/child care expenses, including day care, clothing, food, etc.
Dependent Care Duration:
The length of time (in years) that funds for this care will be needed.
Total estimated education costs for all children/dependents.
Income your beneficiary(ies) would need, in your absence, to maintain current or desired standard of living.
Monthly Replacement Income:
The amount of monthly income your beneficiary(ies) would need, in your absence, to maintain current or desired standard of living.
Income Replacement Duration:
Length of time (in years) that your beneficiary(ies) would need this monthly income.
Estimated Rate of Return:
The rate of interest your beneficiary(ies) could reasonably expect to receive on any invested assets. 3% is a conservative rate of return, assuming a 0% rate of inflation.