| LIFE INSURANCE CALCULATOR | |||||
|---|---|---|---|---|---|
| Final Expense Plan | $0 | How much money would your Family | |||
| Mortgage Remaining | $185,000 | need to cover expenses if you passed | |||
| Other Debts (Credit Cards, Loans, etc.) | $0 | away suddenly? | |||
| Emergency Fund | $0 | ||||
| Survivors Annual Income Needs | $75,000 | Cash Needs: | $185,000 | ||
| Years Needed | 33 | Present Value of Income Needs: | $1,855,793 | ||
| Assumed Rate of Return | 4.5% | Total Funds Needed: | $2,040,793 | ||
| Assumed Inflation Rate | 2.0% | ||||
| Current Savings | $53,000 | Funds available: | $553,000 | ||
| Investments & Other Assets (that could be sold) | $500,000 | Current Life Insurance in place: | $500,000 | ||
| Current Life Insurance on Deceased | $500,000 | Total Funds Available: | $1,053,000 | ||
| Current Cost for Nursing Home Expenses | $65,000 | ||||
| (Average stay in a Nursing Home is 3 years) | Potential Cost for Nursing Home: | $277,812 | |||
| CALCULATE | Additional Insurance Needed: | $1,265,605 |
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