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LIFE INSURANCE NEEDS ANALYZER

Fill out this worksheet to get an idea of how much life insurance you and your family need. For a more thorough assessment of your needs, call Wescom Insurance Services at 1-888-4WESCOM (1-888-493-7266), ext. 1080, Monday through Friday from 8:30 a.m. to 5 p.m. PST.


Part I: Family Income Replacement
Family Income Your Gross Income    
Spouse's Gross Income +  
Other Gross Income +  
Total Gross Income =  
Income to Be Replaced How much income will your family need to live comfortably? (Typically 80% of your gross income) x   %
Total Replacement Income Needed =  
Available Income (spouse's income, social security, etc) -  
Net Replacement Income Needed =  
Expected Rate of Return (e.g. 5%) /   %
Assets needed to produce Net Replacement Income =  
Available Investable Family Assets Savings    
Investment Portfolio +  
Current Life Insurance +  
Other Assets +  
Total Available Investable Family Assets =  
Life Insurance Needed for Income Replacement (Subtract Total Investable Family Assets from assets needed for Net Replacement Income    
Part II: Debt, College, and Other Funding Needed
Debt Repayment Mortgage Balance(s)    
Auto Loan Balance(s) +  
Consumer Debt Balance(s) +  
Other Debt Balance(s) +  
Total Debt =  
College Funding No. of kids ages 0-9         0 1 2 3 or more
Cost of sending your 0-9 year old(s) to college    
No. of kids ages 10-14     0 1 2 3 or more
Cost of sending your 10-14 year old(s) to college +  
No. of kids ages 15-19     0 1 2 3 or more
Cost of sending your 15-19 year old(s) to college +  
Total cost of sending your child/children to college =  
Other Expenses Funeral (typical cost of a funeral is approx. $5,000)    
Special Bequests +  
Other Expenses +  
Total Expenses =  
Total Insurance Needed Total Additional Expenses (Debt, College, and Other)    
Income Replacement Insurance Needed (from Part I) +  
Total Life Insurance Needed =  


Insurance services offered through Wescom Insurance Services
CA Ins Lic #0E89948, a wholly owned subsidiary of Wescom Credit Union.