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Life Insurance Calculator Part Two
By admin | March 26, 2007
O.K. the most common negative comment I got on the life insurance calculator (part 1) is that it is far too conservative of a life insurance face value estimator. My experience selling life insurance has been with working class people – many who would not get preferred health ratings – where I had to walk a line between providing adequate protection and keeping premiums very affordable. After all, if the premiums were not affordable, the clients would either decline the policy, or they would drop it in short order!
However I would like to make this tool as useful as possible, and appreciate your suggestions. So what I’d like to do is to tell you exactly how I calculated the value, and get your imput.
- One Year’s Salary
- Mortgage Payments Until House is Paid off OR
- Rent Payments Until Retirement
- $25,000 Emergency Fund for Bills
- $30,000 per child Education fund TIMES number of children
- $10,000 Final Expense Fund
I know this is convservative, but if you are out there selling to the middle class it may be more realistic than actually replacing total income until some magical retirement date.
O.K. shart shooting. 
Oh yeah, you can see the life insurance calculator working here.
Topics: online tools | No Comments »
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