Description:

This spreadsheet is designed to provide a comprehensive analysis of an individual’s insurance needs. It includes sections for general information, immediate financial needs, future financial needs, and current assets. The aim is to help determine the appropriate amount of life insurance coverage required to ensure financial security for the individual’s family.

• General Information:
  • Collects basic personal details such as name, age, address, company information, civil status, and estimated annual income.
    
    
• Immediate Financial Needs:
  • Covers essential financial obligations such as mortgage balance, emergency fund, child care expenses, college fund, and extra debts.
    
    
• Future Financial Needs:
  • Calculates the income replacement needs of the survivor, considering current income, percentage needed, less survivor pension income, and the present value of income replacement needs.
    
    
• Current Assets:
  • Details all current assets including savings & investments, retirement savings, life insurance, other death benefits, and other available funds and assets.