FIND OUT YOUR FINANCIAL NEEDS IN 10 MINUTES

STEP 1 : Find out the income need of your family when you are gone

YOUR FINAL EXPENSES YOUR FAMILY EMERGENCY FUNDS

 Final Medical & Hospital Costs (Estimate:  Major Home Repairs
RM25K to RM800K, ignore if there is medical ins.)  Car Repairs
 Funeral (Estimate: RM5K to RM80K)  Medical Emergencies
 Legal / Executor Fees / Probate Costs
(Estimate: RM5K to RM20K) Total Needed
Total Needed (Estimate: 30 - 50% of your annual income)

YOUR CHILDREN’S EDUCATION FUND YOUR OUTSTANDING DEBT BALANCE

Total Cost of Number of

= Total Needed
 Car Loan
 Home Loan
Degree Children (Applicable only if there is no mortgage insurance)
 Credit Card Balance
The estimated average total education cost per child is:
Local University – RM 50,000  Others
Overseas University – RM 200,000 Total Needed
NEEDS OF YOUR DEPENDANTS
 Care for Dependants
 Home Maintenance
 Food / Clothing
GRAND
Annual Amount Needed TOTAL RM (A)
(Estimate: 30 - 50% of your annual income) NEEDED

Annual amount No. of years to

= Total Needed
(FROM 1 – 5)

continue support
(e.g. until youngest
child is age 21)

STEP 2 : How much are your existing liquid assets & life insurance policies?

 Life Insurance (including group life policy) : RM _______________________________

 EPF : RM _______________________________
 Cash & Savings : RM _______________________________
 Other Liquid Assets (shares, unit trust, bonds) : RM _______________________________
Total Available Liquid Assets & Insurance : RM ____________________________(B)

STEP 3 : Calculate the amount of additional life insurance you need

 Total cash needs from STEP 1 : RM ____________________________(A)

 (-) Minus total available liquid assets
& Existing Life Insurance from STEP 2 : RM ____________________________(B)
 ADDITIONAL LIFE INSURANCE NEEDED : RM _______________________ (A) – (B)

In order to protect your family’s financial security, how much can you set aside
comfortably each month to meet this need (or part of it)? RM_____________