INFLATION RATE

This is the rate at which you expect your expenses to rise. Your total expenses are increased by this rate for each year you require income. The income you would receive from your life insurance policy is used to cover any shortfalls between your expected income from all sources and your expenses.

INCOME TAX

This is your income tax rate. Changing this rate only affects your interest income from your investments. All other income and expenses should be entered on an after tax basis.

CASH AND SAVINGS

Total you have in cash, checking accounts, savings accounts or other accounts that can be used to help cover expenses.

HOME EQUITY

Total amount of equity in your home that you are willing to use toward your living expenses. Only include the home equity that you consider available to use toward your living expenses. For example, the equity you would make available by selling your home and moving into a smaller one.

INVESTMENTS

Total value of all investments that you are willing to use toward your living expenses.

OTHER

Any other assets that you may be willing to sell or liquidate.

ESTATE OR INHERITANCE TAXES ON ASSETS

Taxes that are required to be paid on your assets at death.

PROBATE COSTS

Probate costs cover a government's or state's legal fees for disbursing the assets of the deceased. You may incur significant probate costs, depending on your place of residence, even if you have a will.

FUNERAL COSTS

All costs required to cover the cost of the funeral.

UNINSURED MEDICAL COSTS

Any medical costs that are not covered by your medical insurance. Be sure to include any deductibles.

DEBT REPAYMENT

Credit card debt, auto loans, home equity loans, mortgages or other debt that you wish to repay. Providing the ability to repay these loans if you were to die can significantly help your family meet its monthly living expenses.

COLLEGE FUND FOR CHILDREN

Amounts you wish to provide your surviving children to cover future college expenses.

SPOUSE INCOME FROM WORK

Income expected from your spouse after your death. Make sure that the starting year for this income includes adequate time to complete any education or training your spouse may need.

SOCIAL SECURITY SURVIVOR BENEFITS

Depending on your work history, your family may qualify for Social Security benefits.

LIVING EXPENSES WITH CHILDREN AT HOME

LIVING EXPENSES WITH CHILDREN GONE

Total monthly expenses after your children have left home.

CHILDREN'S EDUCATION EXPENSES

Monthly expenses for your children's education expenses. If your children have not yet entered college, and have no other educational expenses, leave this amount at zero and enter an amount in the college fund entry fields in the total expenses at death section.

RETRAINING AND EDUCATION FOR SPOUSE

Monthly expenses expected to cover any cost of education or retraining for your spouse to re-enter the workforce.

OTHER EXPENSES

Any other monthly expenses not included above.

SAVINGS BALANCE

The amount of funds available to your family after your death expenses have been covered. This includes any current life insurance.