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1. ENTER YOUR PROTECTION ASSUMPTIONS
$
INCOME TO REPLACEAnnual income your family would need replaced
⌛
YEARS OF INCOME PROTECTIONNumber of years the income should continue
⌂
MORTGAGE & OTHER DEBTSAmounts you want eliminated immediately
◆
EDUCATION / FAMILY CAPITALAdditional capital for children or family objectives
+
FINAL & IMMEDIATE EXPENSESFuneral, legal, emergency and other immediate costs
T
ESTIMATED TAX LIABILITY AT DEATHCapital gains / other estate taxes expected to remain as a long-term obligation
−
EXISTING LIFE INSURANCECoverage already available for these needs
$
AVAILABLE CASH / LIQUID CAPITALCash readily available to meet these needs
💡 HOW IT WORKS
We identify the capital needed to replace income for a selected period, add debts, family obligations, immediate expenses and estimated tax liabilities, then subtract insurance and readily available cash. The result illustrates the remaining protection gap.
2. YOUR RESULTS
Your Family Protection Journey
1

INCOME CAPITAL

Protect the Time

⌛
income replacement
capital required
+
2

OTHER NEEDS

Protect the Obligations

⌂
debts, family capital,
expenses and taxes
=
3

PROTECTION NEED

After Insurance / Cash

✓
remaining protection
gap illustrated
◎
Total family capital need before existing coverage:
Insurance / cash available:
Illustrated protection gap:
PROTECTION POSITION
What You Need — Obligation / Responsibility What You Have — Insurance / Cash The Gap
3. SMART TEACHING TOOL — MATCH THE INSURANCE TO THE NEED
TERM INSURANCE
Temporary insurance for a temporary need.
Term insurance provides coverage for a selected term. At the end of the term, the coverage may be renewed if permitted by the policy, usually at a higher premium, or it may be cancelled.

Typical temporary needs: mortgage protection, children’s education, temporary income protection and other obligations expected to end over time.

Term insurance may also provide an affordable way to put important protection in place when current cash flow does not comfortably support the premium for permanent insurance. Having appropriate protection in place may be better than leaving the need completely unprotected.

Simple principle: Short-term need → short-term protection.
PERMANENT / WHOLE LIFE INSURANCE
Long-term insurance for a long-term need.
Permanent insurance is designed for long-term protection, potentially extending to age 100 or for life depending on the policy.

Some permanent policies may also include a tax-advantaged savings or cash-value element that can help create access to cash flow later in life—for example, retirement needs or other financial objectives.

It can therefore serve two broad purposes: living cash-flow potential and estate / legacy protection.

Simple principle: Long-term need → long-term protection.
THE F.I.T. PLANNING PROCESS
BEGIN WITH THE PURPOSE
What needs to be protected, and for how long?
→
EVALUATE THE CHOICES
Evaluate the available choices and how each one fits the purpose.
→
MAKE AN INFORMED DECISION
Choose the solution you understand and believe best fits your own circumstances.
The F.I.T. PLANNING Smart Cycle of Success brings all three together. Ask us how.
There are many insurance choices. The purpose of the planning conversation is not to tell you what to choose. It is to collaborate with you so you understand the choices, ask the right questions and have the clarity to arrive at your own informed financial decision.
Insurance products, premiums, renewal provisions, guarantees, cash values, tax treatment and other features vary by policy and insurer. Always review the actual policy, its terms and applicable rules before making a decision.
Educational planning illustration only. This calculator is not an insurance recommendation or needs-analysis substitute. Actual insurance needs depend on individual circumstances, available assets, survivor income, taxes, benefits and other planning considerations.