Life Insurance Needs Analysis: How Much Insurance Do You Need

STEP 1: Assets and life insurance
Liquid assets
(Cash on hand, GICs, RRSPs and other investments)
Other disposable assets
(Rental property, cottages, farm or business assets)
Total amount of existing life insurance policies
(include group insurance, personal insurance, mortgage insurance)
STEP 2: Liabilities and cash needs
Total mortgage amounts owing
(Residential, commercial etc.)
Total of loans and other debts
(such as bills and credit cards)
Final expenses
(funeral expenses, lawyer fees, income and capital gains taxes)
Education fund
(we suggest a minimum of $10,000 per child per year of schooling)
Other cash needs
(emergency fund, child care, aging parents, etc.)
STEP 3: Income needed by your survivors in the event of your death
Annual income to provide for your survivors
(70% of current income is often selected)
Approximate number of years income is to be provided
Annual rate of return on investments
(before taxes)
US Life Insurance Quotes available.

life insurance testimonials
When our children graduated, we wanted to cut back on and optimize our insurance. Jack Bendahan helped us part with our unresponsive agents and found us the best new deal! (1 of 85)

One Comment

  1. […] For the purpose of this article let’s exclude big ticket items like paying off a mortgage or line of credit. For a full analysis of your insurance needs you can visit the attached link How Much Life Insurance Do You Need […]

Skip to
second column

Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848

© LSM Insurance Services Ltd. 1998-2018

Translate »