Tips for Data Entry:
Simple calculation only – time value of money is not factored in. Please contact us for more extensive help in your needs analysis.
Funeral Expenses average $10,000 total.
Estate Administration is often a percent of the estate value (5% is average for many cases)
Child care costs may include nanny / daycare if death of a non-working parent occurs
Educational costs do not account for inflation. Contact us for more detailed educational cost estimates as needed
Survivor income should generally be a percent of current income – 65 – 75% is a common average. How long the income should last is an important component in an effective needs analysis. Please contact us for a more detailed approach to preparing for survivor income.
The ‘life insurance needed” total is based on the dollar amount of input values. Contact us for more information!