How much Life Insurance will I need?

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 may require the purchase of a life insurance policy to help ensure that your family’s needs will continue to be met, even after your untimely death cuts your earnings potential short.

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Age, Income, and Assumptions

Current age (if applicable) (1 to 85)

Current annual income ($)

Spouse's annual income (if applicable)' ($)

Spouse's current age (if applicable) (0 to 85)

Spouse's desired retirement age (if applicable) (0 to 65)

Investment return (-12% to 8%)

Anticipated inflation rate (0% to 10%)

Immediate Cash Needs

Funeral expenses ($)

Final expenses ($)

Mortgage balance ($)

Other debts ($)

Desired annual income needs

(Typically 70-80% of current combined income) ($)

Number of years income is needed (1 to 70)

College needs ($)

Available Resources

Investment assets ($)

Existing life insurance ($)

Include social security benefits?

Age of oldest child under 18 (0 to 18)

Age of second child under 18 (0 to 18)

Age of third child under 18 (0 to 18)

Age of fourth child under 18 (0 to 18)

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. 1st United Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

CFS representatives do not provide tax or legal guidance. For such guidance please consult with a qualified professional, information shown is for general illustration purposes and does not predict or depict the performance of any investment or strategy. Past performance does not guarantee future results.

Rahil Machiwalla
Financial Advisor

How much Life Insurance will I need?

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Rahil Machiwalla