Life Insurance
- How Much Do You Need?
| Type
of Insurance |
Typical
Family
|
You
|
Spouse
|
| Estate
Settlement |
| Funeral
and Legal Fees |
$10,000
|
$ |
$ |
| Debts |
$5,000
|
$ |
$ |
| Emergency
Fund (3 months - 1 year) 6 Months |
$20,000
|
$ |
$ |
| Mortgage
Protection |
$150,000
|
$ |
$ |
| Children's
Education (2 children x $20,000) |
$40,000
|
$ |
$ |
| Income
Replacement of $1,500/month (net) |
$300,000
|
$ |
$ |
| Offset
Business Liabilities |
| Special
Bequests for Family or Charity |
$20,000
|
$ |
$ |
| Peace
of Mind |
| Life
Insurance you need - Total |
$545,000
|
$ |
$ |
| Life
Insurance you have - Group |
$50,000
|
$ |
$ |
| Life
Insurance you have - Personal |
$50,000
|
$ |
$ |
| Life
Insurance you have - Total |
$100,000
|
$ |
$ |
| Deficiency
(Amount your family is at risk every day) |
$445,000
|
$ |
$ |
|
Term
Insurance:
|
$ |
|
Permanent
Insurance:
|
$ |
|
$/Month
for Life Insurance:
|
$ |
|
$/Month
for Car Insurance:
|
$ |
| The above table
can be printed and used as a planner for how much life insurance you
may need. Only fill in the amounts in the categories that apply to
you or your spouse. |
|
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|
|
|
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|
Life
Insurance, How Much Will You Need?
is courtesy of Garth R. Jones Insurance Representative
|
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