Goals

Which of the following concerns you most?
(Check all that apply)

Providing for my family should I die.

The financial risk of extended medical conditions or extended medical care.

Retirement shortfall and/or income taxes during retirement.

Mitigating my retirement strategy’s market risk.

Balancing the desire to leave a legacy for the next generation and maintaining access to funds in case of emergency.

Estate taxes.

I'm not sure.

ACCELERATED DEATH BENEFITS ARE NOT HEALTH, DISABILITY OR LONG TERM CARE INSURANCE NOR ARE THEY INTENDED TO REPLACE HEALTH, DISABILITY, OR LONG TERM CARE INSURANCE.
  
Texas Residents: Receipt of acceleration-of-life-insurance benefits may affect your, your spouse’s or your family’s eligibility for public assistance programs such as medical assistance (Medicaid), Aid to Families with Dependent Children (AFDC), supplementary social security income (SSI), and drug assistance programs. You are advised to consult with a qualified tax advisor and with social service agencies concerning how receipt of such a payment will affect your, your spouse’s and your family’s eligibility for public assistance.

Mortgage

Life insurance proceeds can be used to pay off the mortgage and keep your family in their home. Approximately how much debt would you like to pay off in each of the following categories?
Mortgage
$
Home equity loans
$
Second home or investment properties
$

Debt

If you were to die, life insurance proceeds can be used to pay off debts. Not including mortgages or home equity loans, approximately how much debt would you like to pay off in each of the following categories?
Auto loans
$
Credit cards
$
Student loans
$
Other debts
$

Income Replacement

Life insurance proceeds can replace lost future income in the case of death. Think about how much income you generate today and how much you would like to provide for your loved ones if you were to die.
How many years to provide income?
How much income per month?

This calculation assumes the lump sum is invested with an earnings rate of 4% and a 20% tax rate on the investment earnings. Income withdrawn is assumed to increase 3% annually to account for inflation. Information presented is hypothetical and not intended to project or predict any investment results.

Education

Life insurance proceeds can help ensure your children or grandchildren can pay for college education. A good rule of thumb may be to plan for $100,000 of future college costs for each child, but the amount is up to you.
Number of children
Funding for each child
$

The primary purpose of life insurance is to provide a death benefit to beneficiaries. Because of the uncertainty surrounding all funding options except savings, it is critical to make personal savings the cornerstone of your college funding program. However, even a well-conceived savings plan can be vulnerable. Should you die prematurely, your savings plan could come to an abrupt end. To protect against this unexpected event, life insurance may be the only vehicle that can help assure the completion of a funding plan. In addition to the financial protection aspect of insurance, the tax-deferred buildup of cash values can be part of your college savings plan. Generally, distributions up to the contract’s cost basis are tax free. Moreover, loans in excess of the cost basis are also tax free as long as the policy remains in force.

Other needs

Are there other needs that come to mind that you would like to ensure are covered? Perhaps you'd like to donate to a charity, or provide for a disabled adult child, or provide for legal expenses.
Desired amount
$

Existing life insurance

How much life insurance coverage do you already have in place?
$

Savings

How much savings do you already have? Think about items like retirement accounts, savings accounts, and certificates of deposit. These are all accounts that can be left to your loved ones and lower your life insurance need.
$