HOW MUCH IS ENOUGH? WORKSHEET

Through this informal questionnaire, we would like to help you decide how much life insurance coverage you need by looking at specific costs and financial obligations and comparing them to your available assets.

  • Income replacement    (annual salary x __ )
    Generally this should be 5 to 10 times your annual income.
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  • Final Expenses
    Include funeral expense, non-reimbursed medical cost, probate fees, etc.
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  • Outstanding Mortgage Balance
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  • Other Debt Repayment
    Include vehicle loans, student loans, personal loans, etc.
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  • Education
    Include you children's private, elementary, secondary, special education needs, and college costs.
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  • Inheritance
    Total amount planned for children, grandchildren, other relatives or friends.
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  • Total funds needed (A)
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Available Assets:
 
  • Personal Life Insurance Coverage
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  • Insurance Through Your Employer
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  • Total Savings (except what you need for retirement)
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  • Other Liquid Assets
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  • Personal Life Insurance Coverage
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  • Total funds available (B)

    The difference of your total financial cost/obligations and your total liquid assets may be used to determine the amount of life insurance coverage you need.
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  • Estimated insurance needed: (A minus B)
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This worksheet is intended as an estimate only. For details on your individual insurance needs, contact an Emigrant Insurance Representative at 212-850-4480 or visit an Emigrant branch.