Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step usually requires the purchase of a life insurance policy to ensure that your family's needs will continue to be met, even after your untimely death cuts your earnings potential short.

Age, Income and Assumptions Your current age   Spouse's current age (if applicable)   Current annual income   Spouse's annual income (if applicable)   Spouse's desired retirement age (if applicable)   Investment return: (%)   Anticipated inflation rate: (%) Immediate Cash Needs Funeral expenses   Final expenses   Mortgage balance   Other debts   Long-Term Income Needs Desired annual income needs (typically 70-80% of current combined income)   Number of years income is needed   College needs Available Resources Investment assets   Existing life insurance   Include social security benefits? No Yes   Age of oldest child under 18   Age of second child under 18   Age of third child under 18   Age of fourth child under 18