Life Insurance For Everyone

Charles S. Taub Insurance Services
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Are you paying too much for your life insurance?

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Family Needs Analysis

The Family Needs Analysis is a simplified guide to estimating your family's financial needs in the event of death.  It will help you to determine the amount of life insurance coverage you require to ensure adequate protection for your family.  The following is a breakdown of the amounts and assumptions used in completing a family needs analysis.  Please use this template as a guide.  Your specific requirements may vary.  Please contact one of our brokers for a more customized analysis.

Cash Needs:
Last expenses (funeral):
Mortgage balance:
Personal debt:
Education funds:
Total Cash Needed
Income Needs:
Annual income needed:
less continuing income:
Top up income needed:
Capital Needed to Provide this level 
of income (assumes 6% rate of return)

Resources Available:
Existing life insurance:
Government Benefits:
Total Resources at Death:
Additional Life Insurance Needed: $643,166

Based on the information in this example, an additional $643,166 of life insurance is needed.  This very basic calculation is for illustrative purposes only.  It does not account for inflation, tax liabilities and other factors which will impact the results.  Your L.I.F.E. representative can work with you to determine an insurance program which will meet your needs.

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Ottawa, Canada
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