Determining How Much Supplemental Life Insurance You Need
Some worksheets to help you decide. Do not construe this as financial advice.

Now that the Trust offers portability of supplemental life insurance, it's even more critical to assess your needs while you can take advantage of this benefit. The insurance you elect now could protect your family during your retirement, or until you find other employment.

To determine your needs, now, and for the future, the best place to start is by knowing your finances. How does your current income prepare you to meet your long-term financial goals? Use this worksheet along with the budgeting worksheet and the seasonal income worksheet to get a sense of your overall financial picture.

Worksheet 3 - "Long-term Financial Goals"
It's important to know how much your family needs to cover the basics, but it's also important to know how much protection you need to meet long-term obligations. Setting priorities now will help you as you complete Worksheet 4.

Based on your total, you may want to recalculate the numbers above, whether revising your assessments for fund totals or including only your top priorities.

Return to Calculating your life insurance needs. You may want to review worksheet 4 or read more about portability.

Supplemental life insurance is available to you through the Union-led Benefits Trust.