Baton Rouge Life Insurance - Needs Calculator

Life Insurance Investment Calculator

The life insurance calculator computes the amount of coverage suggested for you to carry for your family. This calculator is a simple form that you need to fill out, in order to calculate your insurance needs. This is a perfect tool which guides your children's education and the living expenses of your family when you would not be there anymore.

Income Needs
Annual income your family would need if you die today Put a figure worth 60% - 70% of your total annual income including all salaries, dividends, interest, and any other sources of income.	$
Annual income available to your family from other sources Put a figure that includes your spouse's earnings (Social Security may be available), dividends, interest.	$
Number of years for which your income needs to be replaced¹

Expenses
Burial expenses Assuming the average cost of an adult funeral to be $10,000	$
Mortgage and other debts A sum of your mortgage balance, credit card debt, car loans, home equity loans, etc. (annually)	$
Children's College Cost² The estimated cost of a four year education in the year 2003-2004: public college-$4,694; private college-$19,710.
Number of children:

Assets
Savings and investments All of your bank accounts, CD's, stocks, bonds, mutual funds, real estate/rental property, etc.	$
Retirement savings Include your IRA's, 401(k) plans, pension and profit sharing plans.	$
Present amount of life insurance Amount of your personal insurance inclusive of any group insurance which you have.	$

For detailed discussion and analysis of your needs, contact a local life insurance agent.

* Our local life insurance agents reside in Baton Rouge, Louisiana

1 Important note: Inflation is assumed to be 4%. The rate of return on investments is assumed to be 8%.

2 Source: The College Board, Trends in College Pricing 2003.

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