Life insurance needs analysis worksheet 2026

1. Click ‘Get Form’ to open the life insurance needs analysis worksheet in the editor.
2. Begin with the 'Survivor Income Need' section. Enter an amount that represents 50-75% of your combined family income.
3. In the 'Years for Survivor Income' field, input the number of years until the survivor’s life expectancy.
4. For 'After-Tax Rate of Return', indicate a percentage typically between 4%-6%.
5. Next, fill in the 'Inflation Rate' with a value generally ranging from 2%-3%.
6. Enter your outstanding mortgage balance under 'Mortgage Payoff'.
7. List any outstanding debts such as credit cards and loans in the 'Outstanding Debt' section.
8. Calculate and enter the estimated cost for college education under 'College Education Fund'.
9. Provide an amount for your emergency fund, which should be 25%-50% of one year’s income.
10. Estimate final expenses and funeral costs, typically between $10,000 to $20,000.
11. Input any probate and administrative costs, which can be up to 3% of your net worth.
12. Finally, list all available liquid assets including savings, investments, retirement accounts, and existing life insurance.

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