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    Generic Life Insurance Needs Analysis Worksheet 2014-10

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    Christophe Bernard
    This document is a worksheet for analyzing a client's life insurance needs. It collects information about the client and spouse such as age, income, debts, education savings goals, and existing assets. It then calculates the total life insurance need by adding up household liabilities, legacy needs, income replacement amounts, and subtracting existing financial assets. The results show the current life insurance need for both the primary client and spouse. Space is also provided to document any existing coverage, additional coverage purchased, and any shortfall declined.

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    © All Rights Reserved
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    Generic Life Insurance Needs Analysis Worksheet 2014-10

    Uploaded by

    Christophe Bernard
    150 views3 pages
    This document is a worksheet for analyzing a client's life insurance needs. It collects information about the client and spouse such as age, income, debts, education savings goals, and existing assets. It then calculates the total life insurance need by adding up household liabilities, legacy needs, income replacement amounts, and subtracting existing financial assets. The results show the current life insurance need for both the primary client and spouse. Space is also provided to document any existing coverage, additional coverage purchased, and any shortfall declined.

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    This document is a worksheet for analyzing a client's life insurance needs. It collects information about the client and spouse such as age, income, debts, education savings goals, and existing assets. It then calculates the total life insurance need by adding up household liabilities, legacy needs, income replacement amounts, and subtracting existing financial assets. The results show the current life insurance need for both the primary client and spouse. Space is also provided to document any existing coverage, additional coverage purchased, and any shortfall declined.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    150 views3 pages

    Generic Life Insurance Needs Analysis Worksheet 2014-10

    Uploaded by

    Christophe Bernard
    This document is a worksheet for analyzing a client's life insurance needs. It collects information about the client and spouse such as age, income, debts, education savings goals, and existing assets. It then calculates the total life insurance need by adding up household liabilities, legacy needs, income replacement amounts, and subtracting existing financial assets. The results show the current life insurance need for both the primary client and spouse. Space is also provided to document any existing coverage, additional coverage purchased, and any shortfall declined.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    LIFE INSURANCE NEEDS ANALYSIS WORKSHEET

    Client Data Client Name Age Annual Income


    Primary
    Spouse
    Number of Family Members

    HOUSEHOLD LIABILITIES:
    Mortgage Balance
    Car Loans
    Lines of Credit
    Credit Cards
    Final Expenses
    Emergency Fund
    SUB TOTAL $0 (A)

    LEGACY NEEDS AND WANTS:


    Education Fund
    Legacy Fund for Children
    Charitable Bequest
    Other
    SUB TOTAL $0 (B)
    Version 2014-10

    FAMILY INCOME NEED: PRIMARY FAMILY INCOME NEED: SPOUSE

    What percentage of your income do you wish to replace? 0% What percentage of your income do you wish to replace? 0%
    Annual Income to Replace $ - Annual Income to Replace $ -
    Subtract annual CPP/QPP survivor/orphan income benefits Subtract annual CPP/QPP survivor/orphan income benefits
    Annual Income Shortage $ - Annual Income Shortage $ -
    Number of years required (Age 65 - current age): 65 Number of years required (Age 65 - current age): 65

    Income Replacement (Income x Percentage x years required) $ - Income Replacement (Income x Percentage x years required) $ -
    (C) (D)

    1
    LIFE INSURANCE NEEDS ANALYSIS WORKSHEET

    FINANCIAL ASSETS AVAILABLE: PRIMARY FINANCIAL ASSETS AVAILABLE: SPOUSE


    *Use? *Use?
    Liquid Savings 1 $ - Liquid Savings 1 $ -
    RRSPs 0 $ - RRSPs 0 $ -
    Non-registered Investments 0 $ - Non-registered Investments 0 $ -
    TFSA 0 $ - TFSA 1 $ -
    Other 0 $ - Other 0 $ -
    TOTAL $ - TOTAL $ -
    (E) (F)
    *Generally speaking, retirement assets should not be included in the calculation for life insurance because these assets are earmarked for the surviving spouse's retirement

    TOTAL LIFE INSURANCE NEEDS


    PRIMARY SPOUSE
    This needs analysis demonstrates a life insurance need of (A+B+C-E) = $ - This needs analysis demonstrates a life insurance need of (A+B+D-E) = $ -

    I currently own life insurance form all sources equal to I currently own life insurance form all sources equal to

    My net need for life insurance as of today is $ - My net need for life insurance as of today is $ -

    At this time I have decided to purchase additional coverage of At this time I have decided to purchase additional coverage of

    I furthermore decline purchasing and acknowledge the shortfall of $ - I furthermore decline purchasing and acknowledge the shortfall of $ -

    `
    Primary Client Name 0 Spouse Client Name 0

    Primary Client Signature Spouse Client Signature

    Broker Name

    Broker Signature DATE:

    2
    LIFE INSURANCE NEEDS ANALYSIS WORKSHEET

    MEETING NOTES:

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