What is your IQ?

Do you really know how your current life insurance measures up to your current needs?
The following questionnaire evaluates your life insurance needs based on your current income and assets, your outstanding debts and expenses, and your expected family expenses. After you have completed the exam, you will see an estimate of your remaining life insurance needs and a grade.

How much Life Insurance do you need?
Step 1. Evaluate Your Income and Assets
What is your current annual income? $
How many years will your spouse need your annual income? $
Anticipated annual Social Security:

$

Existing savings and retirement plans:
$
The amount of your existing life insurance coverage:
$
Step 2. Evaluate Your Debts and Expenses
Outstanding mortgage balance:

$

Outstanding loans:

$

Final expenses:

$

Step 3. Evaluate Your Child Support and College Expenses

*We suggest an average annual tuition cost of $15000 - $20000 per year
Child: Monthly child cost: Years child will require support: College expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Additional Recommended Life Insurance: $

Your Life Insurance IQ:

Your Life Insurance IQ is scored A through F based on the amount of insurance you are lacking.
  • "A"  Under-insured by less than $50,000
  • "B" Under-insured by $50,000 to $100,000
  • "C" Under-insured by $100,000 to $250,000
  • "D" Under-insured by $250,000 to $500,000
  • "F" Under-insured by $500,000 or more
Run a Personal Life Insurance Quote Now.

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Wierenga Asset Management, Inc. | 7740 Byron Center Ave., Suite 100 I Byron Center, MI 49315  •  Phone 616-878-4200  •  Fax 616-878-4224  •   john@wierengaasset.com