|
Step 1. Evaluate Your Income and Assets
|
| What
is your current income? |
$
|
| How
many years will your spouse need your annual income? |
|
| Current
investment income (Rental Properties,
Dividends, Annuities, etc.) |
$
|
Existing
liquid assets - All assets that
can be turned into cash within 3 months
(We recommend you not liquidate retirement accounts due to
tax penalties) |
$
|
| The
amount of your existing life insurance coverage: |
$
|
Step
2. Evaluate Your Debts and Expenses
|
| Outstanding
mortgage balance: |
$
|
| Outstanding
loans: |
$
|
| Final
expenses:
(Medical, Funeral, Taxes) |
$
|
Step
3. Evaluate Your Child Support College
Expenses
|
| *We
suggest an average annual tuition cost of $15,000 - $20,000
per year |
|
|
|
Additional
Recommended Life Insurance:
|