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How Much Life Insurance Do You Need?

Settlement Fund
Funeral, medical expenses, legal fess, unpaid taxes, credit accounts & loans (usually 3 months income)

Housing Fund
Funds to cancel a mortgage, purchase a home, or pay rent for 10 years

Readjustment Fund
Support while decisions and adjustments are made (usually 6-12 months income)

Emergency Fund
Auto replacement, home repair or interruption of survivors' income by injury or unemployment (usually 3-6 months income)

Education Fund
University, college or other specialized training for children (usually $30000/child)

Special Fund
Bequests, charities, infirm child, or dependant relative care, child's wedding

Total Gross Monthly Income Needs
Food, clothing transportation, utilities, child care, entertainment, tax, insurance, other expenses (usually 70% of current gross family income)