| Worksheet 8.1 LIFE INSURANCE NEEDS ANALYSIS METHOD |
| Insured’s Name | | | | | | | | Date |
|
| Step 1: Financial resources needed after death |
| 1. Annual living expenses and other needs: |
| | | Period 1 | | Period 2 | | Period 3 |
| a. | Monthly living expenses | | $ | | $ | | $ |
| b. | Net yearly income needed(a × 12) | | $ – 0 | | $ – 0 | | $ – 0 |
| c. | Number of years in time period |
| d. | Total living need per time period (b × c) | | $ – 0 | | $ – 0 | | $ – 0 |
| TOTAL LIVING EXPENSES (add line d for each period): | | | | | | | | | $ – 0 |
| 2. Special needs |
| a. | Spouse education fund | | | | | | | | $ |
| b. | Children’s college fund | | | | | | | | $ |
| c. | Other needs | | | | | | | | $ |
| 3. Final expenses (funeral, estate costs, etc.) | | | | | | | | | $ |
| 4. Debt liquidation |
| a. | House mortgage | | $ | | $ | | $ |
| b. | Other loans |
| c. | Total debt (4 a + 4 b) | | | | | | | | $ – 0 |
| 5. Other financial needs | | | | | | | | | $ |
| TOTAL FINANCIAL RESOURCES NEEDED (add right column) | | | | | | | | | $ – 0 |
|
| Step 2: Financial resources available after death |
| 1. Income |
| | | Period 1 | | Period 2 | | Period 3 |
| a. | Annual Social Security survivor'sbenefits | | $ | | $ |
| b. | Surviving spouse’s annual income |
| c. | Other annual pensions and Soc. Sec.benefits |
| d. | Annual income | | $ – 0 | | $ – 0 | | $ – 0 |
| e. | Number of years in time period | | 0 | | 0 | | 0 |
| f. | Total period income (d × e) | | $ – 0 | | $ – 0 | | $ – 0 |
| g. TOTAL INCOME | | | | | | | | | $ – 0 |
| 2. | Savings and investments | | | | | | | | $ |
| 3. | Other life insurance | | | | | | | | $ |
| 4. | Other resources | | | | | | | | $ |
| TOTAL FINANCIAL RESOURCES AVAILABLE (1g + 2 + 3 + 4) | | | | | | | | | $ – 0 |
| Step 3: Additional Life Insurance needed |
| Step 1: Total financial resources needed | | | | | | | | | $ – 0 |
| Step 2: Total financial resources available | | | | | | | | | $ – 0 |
| ADDITIONAL LIFE INSURANCE NEEDED | | | | | | | | | $ – 0 |
April 9th, 2022 
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