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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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Review

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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)

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*Non-deposit investment products and services are offered through CUSO Financial Services, LP (“CUSO Financial”) ("CFS") a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CUSO Financial: 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 CUSO Financial. The Credit Union has contracted with CUSO Financial for investment services. Atria Wealth Solutions, Inc. ("Atria") is not a registered broker-dealer and/or Registered Investment Advisor and does not provide investment advice. Investment advice is only provided through Atria's subsidiaries. CUSO Financial is a subsidiary of Atria.

Financial Advisors are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with, residents of other states will be made only upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.