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CALCULATING YOUR NEED DEBTS INCOME REPLACEMENT This is referring to any debts that you might have outside the mortgage (car loan, credit cards student loans, etc.). If we were going to write you a check to pay off all debts (excluding your mortgage) how much would that check be for? After paying off your debt, if we could bring your family a check every month to cover normal living expenses – how much would that monthly check need to be? And, for how many years? MORTGAGE PROTECTION ________________ MONTHLY AMOUNT x 12 x ________________ YEARS = What is your current balance that you owe the bank for your mortgage? TOTAL EDUCATION What do you feel would be an adequate amount to set aside for your children’s education $50,000 $100,000)? What is the approximate amount that you have established in college savings? FINAL EXPENSES ____________ ADEQUATE EDUCATION AMT. – ____________ AMOUNT SAVED = TOTAL On average, we allocate around $10,000–15,000 to cover final expenses. Does that seem reasonable?
SUMMARY RESULTS DEBTS INCOME (________________/MO X 12 X ________________ YEARS) MORTGAGE EDUCATION EXPENSES TOTAL LIFE INSURANCE NEED= $________________ $________________ $________________ $________________ $________________ $________________ TOTAL NEED= SUBTRACT EXISTING LIFE INSURANCE SUBTRACT EXISTING RETIREMENT SAVINGS (INCLUDING 401K, IRA, ETC.) ($________________ ) ($________________) ($________________ ) NET LIFE INSURANCE NEEDED: $________________ TOTAL 7
Page 1 and 2: PERSONAL LEGACY WORKBOOK 1
Page 3 and 4: OUR PROMISE Our company represents
Page 5: LIVING BENEFITS ARE THE MOST EFFECT
Page 9 and 10: 9
Page 11 and 12: NEXT STEPS 1. Your agent will help
Page 13 and 14: 13
Page 15: ALLIANCE GROUP LEE DUNCAN EVP & CHI

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