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Assessing Your Life Insurance Needs

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Use this work sheet to calculate your annual living expenses. Do not enter any values into the fields that are already displaying a zero. These fields will be calculated for you when you click the Calculate button at the bottom of the work sheet. (Enter numeric values only into each field. Do not use commas, dollar signs, etc.). Skip those items that do not apply.

Then go to the How Much Life Insurance Do You Need? Work Sheet to calculate the total life insurance needed.

Expense Category Average Monthly Expenditure
Housing  

    Rent/Mortgage payment/Insurance/Taxes

   $

    Repairs/Improvements

     

    Furnishings

     
Utilities     
Food     
Clothing     

Toiletries

     

Child Care

     

Transportation

  
    Vehicle Payments     

    Gasoline

     

    Maintenance

     

    Auto Insurance

     

Recreation

     

Medical

  

    Physician/Dentist

     
    Medications     
    Insurance     

Insurance For Survivors

  
    Life/Disability/Long-term care     
Other     
Total Monthly Living Expenses =$
Annual Living Expenses
(Total monthly living expenses x 12 months = annual living expenses)		 =$ *
You may print this form for your convenience,
or press the Reset button to try a different set of numbers.

 *Enter this amount on line one, “Annual living expenses,” on the How Much Life Insurance Do You Need? Work Sheet.

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Updated Thursday, February 04, 2010
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