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Insurance Calculator

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This Financial Calculator requires a Browser with Java Support
DEFINITIONS
 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
 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: Percent taxes that are required to be paid on total assets
 Probate costs: Probate costs cover a state's legal fees for disbursing the assets of the deceased. You may incur significant probate costs, depending on your state 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. Make 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. If your spouse needs education or retraining, make sure that the starting year for this income provides adequate time to complete
 Living expenses with children at home: Total monthly expenses while your children are living at home. This should include all monthly expenses except child care
 Living expenses with children gone: Monthly expenses for your children's college expenses. If your children have not yet entered college, leave this amount at zero and enter an amount in the college fund entry fields in the total expenses at death section
 Children's college expenses: Total monthly expenses while your children are living at home. This should include all monthly expenses except child care
 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
 
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