Financial Needs Analysis

This life insurance calculator helps you estimate the minimum amount of life insurance that you need presently. You are advised to use this calculator every year to re-calculate your life insurance needs because most likely the amount of life insurance that you need will change as your financial conditions change.

Expected Average Future Rate of Return from Your Investments %

Immediate Obligations and Death Expenses
Funeral Expenses (average should be around RM10,000 to RM15,000)	RM
Immediate Home and Car Mortgage Payment (next 5 months)	RM
Total Family Expenses within 4 Months of death (because spouse can't work for a few months; business can't be run for a few months, etc)	RM
Medical Bill Immediately Due After Death	RM
Attorney's and Estate Executor's Fee	RM
Other Immediate Debt Payment (credit cards and bills)	RM

Long-term Debt and Obligations
Unpaid Value of Home Mortgage Loan (the real estate property used by your family)	RM
Unpaid Value of Car Loan	RM
Other Long-term Debts (other bank loans, private business debt, etc)	RM

Medium-term/Long-term Family Expenses
Spouse's age	---
Spouse's living expenses per year	RM/year
Number of Years Before Child #1 Becomes Independent	---
Child #1's living expenses per year, including future needs for education	RM/year
Number of Years Before Child #2 Becomes Independent	---
Child #2's living expenses per year, including future needs for education	RM/year
Number of Years Before Child #3 Becomes Independent	---
Child #3's living expenses per year, including future needs for education	RM/year
Number of Years Before Child #4 Becomes Independent	---
Child #4's living expenses per year, including future needs for education	RM/year
Number of Years Before Child #5 Becomes Independent	---
Child #5's living expenses per year, including future needs for education	RM/year

Liquid Assets
Current Accounts	RM
Savings Accounts	RM
KLSE and other Money Market Funds	RM
Corporate and Government Bonds	RM

Fixed/Non-liquid Assets (Do Not Include the House and Cars that your family members are currently using)
Fixed Deposits	RM
Current Value of Stock Options (actual market value of stocks - execution value of stocks)	RM
EPF Account	RM
Value of Houses and Land Not Used by Your Family Members (less any unpaid mortage)	RM
Value of Other Assets (business assets, jewelry, paintings loan to other people etc)	RM

Post-death Family Income
After-tax Income Brought in by Your Spouse Before the Spouse Retires	RM/year
Estimated Yearly After-tax Retirement Income from EPF or Pensions for Your Spouse	RM/year

Notice: Remember that your family's conditions will change every year. Your life insurance needs are very likely to change over time. Our suggestion is that you repeat your calculation using this life insurance calculator every year to make sure you are not under-insured.

Disclaimer and conditions: There is no guarantee that the answers given by the life insurance calculator are either complete or correct. It is not the author's responsibility if the user has incurred any monetary or non-monetary loss as a result of using the calculator. Use this calculator only for a very rough estimate of your life insurance needs.

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