Life Insurance Calculator Help

Assets:
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.

Coverage:
Both individually owned (personal) life insurance and that provided by your employer (group).

Mortgage:
Outstanding balance on loans for your primary residence, including any second mortgages or home equity loans/lines.

Other Debt:
Credit card balances, automobile loans, student loans, personal loans, etc.

Final Expenses:
Funeral expenses, plus unpaid bills (i.e., medical care, taxes). $10,000 is generally the minimum amount of final expenses.

Dependents:
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.

Education:
Total estimated education costs for all children/dependents.

Income Replacement:
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.