Final Expenses:
One of the most immediate expenses is the cost of the funeral. Traditional funeral services average from $6,000 to $10,000. However, funeral expenses vary depending on the arrangements made. You may want to include attorney fees for probate and settling books also.		 Final Expenses:
Mortgage Balance:
If you have an outstanding mortgage, your life insurance policy should be large enough for your survivors to pay it off. (If you have purchased mortgage life insurance, this debt is already covered.)		 Mortgage Balance:
Replacement of Income:
Replacement of income could be for your annual income or for your spouse's. You may not want your spouse to work in the event of your death. If you want to provide replacement income, enter the annual income amount and the number of years you wish to provide this income.		 Replacement of income:

years:
Education:
Over the past several years, the cost for obtaining higher education has significantly increased. If your children have not completed their education prior to your death, your policy should cover the anticipated costs. According to the College Board, the 2021-2022 average cost, including tuition, fees, room and board were $22,690 per year for public universities and $51,690 per year for private universities. With this in mind, enter the number of children you have, the number of years of college you would like to provide for and the type of university you would like to have them attend. If you do not want to use this information you may specify the amount.		 Number of Children:

How many years of college?:

public:
private:
or specify:
Monthly Expenses:
Add up any other monthly expenses. such as household bills, childcare and other expenses not listed under “All Other Debt.”		 Enter Amount:

for how many years?:
All Other Debts:
Outstanding debts such as credit card balances, car loans, education loans, and other loans should be figured into your debt. Any debts where credit life insurance has already been purchased should not be included.		 All other debts:
Assets to Cover Expenses:
Estimate the amount of money you already have to cover the above expenses. This would include investments, retirement plans, life insurance policies or other savings you may have.		 Assets to cover expenses:
       
Final Expenses: $
Mortgage balance: $
Replacement of Income: $
Education: $
Monthly Expenses: $
All Other Debts: $
Total: $
Assets to Cover Expenses: $
Estimated amount of insurance needed: $