35+ Life Insurance Needs Analysis Example Background. This is what most online life insurance calculators use (examples here, here, and here), although i like the idea of doing it by hand to play with the numbers. Parents with minor children—if a parent dies, the loss of their income or caregiving skills could create a financial hardship.
The life insurance needs analysis always assumes that the person (client or spouse) dies today.
For example, you might have one amount until the youngest child is age 18 and a different amount until he/she is age 22. Inside the life insurance policy, there are life insurance settlement options that pertain to the method in which the funds will be paid to the beneficiary. Determining how much life insurance you need doesn't have to be complicated. For example, you might have one amount until the youngest child is age 18 and a different amount until he/she is age 22.
