This is based on your total life insurance needs of LIFE_INSURANCE_REQUIRED_TO_COVER_SHORTFALL with CURRENT_INSURANCE of current life insurance. This analysis covers NUMBER_OF_YEARS_YOU_WISH_INSURANCE_TO_COVER years with an inflation rate of INFLATION_RATE per year. Your rate earned on savings and investments is calculated at RATE_EARNED_ON_SAVINGS_AND_INVESTMENTS per year. Your combined federal and state income tax rate is COMBINED_FEDERAL_AND_STATE_TAX_RATE.
|Current life insurance coverage||CURRENT_INSURANCE|
|Cash and savings||CASH_AND_SAVINGS|
|Total assets to cover expenses||TOTAL_ASSETS_TO_COVER_EXPENSES|
|Expenses at Death|
|Estate or inheritance taxes on assets||ESTATE_OR_INHERITANCE_TAXES_ON_ASSETS|
|Uninsured medical costs||UNINSURED_MEDICAL_COSTS|
|College fund for child 1||COLLEGE_FUND_FOR_CHILD_1|
|College fund child 2||COLLEGE_FUND_CHILD_2|
|College fund child 3||COLLEGE_FUND_CHILD_3|
|Total expenses at death||TOTAL_EXPENSES_AT_DEATH|
|Your Family's Future Income (After Taxes)|
|Spouse income from work||SPOUSE_INCOME_FROM_WORK||YEARS_UNTIL_START_SPOUSE_INCOME_FROM_WORK||DURATION_SPOUSE_INCOME_FROM_WORK|
|Social Security child benefits||SOCIAL_SECURITY_SURVIVOR_BENEFITS_CHILDREN_AT_HOME||YEARS_UNTIL_START_SOCIAL_SECURITY_SURVIVOR_BENEFITS_CHILDREN_AT_HOME||DURATION_SOCIAL_SECURITY_SURVIVOR_BENEFITS_CHILDREN_AT_HOME|
|Social Security survivor benefits||SOCIAL_SECURITY_SURVIVOR_BENEFITS_CHILDREN_GONE||YEARS_UNTIL_START_SOCIAL_SECURITY_SURVIVOR_BENEFITS_CHILDREN_GONE||DURATION_SOCIAL_SECURITY_SURVIVOR_BENEFITS_CHILDREN_GONE|
|Total future income*||TOTAL_VALUE_OF_CURRENT_INCOME|
|Your Family's Future Expenses|
|Child care expenses||CHILD_CARE_EXPENSES||YEARS_UNTIL_START_CHILD_CARE_EXPENSES||DURATION_CHILD_CARE_EXPENSES|
|Living expenses with children at home||LIVING_EXPENSES_WITH_CHILDREN_AT_HOME||YEARS_UNTIL_START_LIVING_EXPENSES_WITH_CHILDREN_AT_HOME_||DURATION_LIVING_EXPENSES_WITH_CHILDREN_AT_HOME_|
|Living expenses with children gone||LIVING_EXPENSES_WITH_CHILDREN_GONE||YEARS_UNTIL_START_LIVING_EXPENSES_WITH_CHILDREN_GONE||DURATION_LIVING_EXPENSES_WITH_CHILDREN_GONE|
|Children's education expenses||CHILDRENS_COLLEGE_EXPENSES||YEARS_UNTIL_START_CHILDRENS_COLLEGE_EXPENSES||DURATION_CHILDRENS_COLLEGE_EXPENSES|
|Retraining and education for spouse||RETRAINING_AND_EDUCATION_FOR_SPOUSE||YEARS_UNTIL_START_RETRAINING_AND_EDUCATION_FOR_SPOUSE||DURATION_RETRAINING_AND_EDUCATION_FOR_SPOUSE|
|Total future expenses*||TOTAL_FUTURE_EXPENSES|
*Both the future expenses and future income totals are expressed as the amount of cash required today, invested at your expected rate of return, to equal the total future cash flow. For example, if you are expecting to receive $1,000 in exactly one year, that $1,000 has the same value as $909 today invested at 10%. Our totals show these current amounts to calculate the life insurance you require today to help cover your future expenses after your future income is taken into account.
**Please note that interest income in the above schedule is calculated at AFTERTAX_RATE, which is your after-tax annual rate of return.
It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.
Insurance products may additionally include mortality, expense risk charges, cost of insurance, administrative, and surrender charges that will have a significant impact on the total rate of return for the investment.
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