The single person has some very unique risk factors that should be reviewed for life insurance needs. As a young person in good health, they should realize their future will surely bring added responsibilities and possible debt that the loss of income could develop a risk beyond their means to deal with.  Since they are young there should be consideration given for the fact that rates should be much less then waiting for an older age or when their health may change causing added premium or possible declines.   For some they do not want to leave financial burdens for others to deal with after they are gone, whether debt, business responsiblities, or other responsiblities.   Life insurance can help with the replacement of that lost income or cover debt responsiblities.   Life insurance is a contract for a future delivery of funds to meet a possible future risk that you feel is beyond the scope of your resources to properly deal with.   It has often been said that those depended on you may pay many times more for the cost of caring for their financial needs should they be left behind after your death to face those financial needs alone.  For most the cost of proper life insurance would be far less costly.  If a couple the same activity should be done for each spouse's risk responsibilities.

                                                                                                                                 Lump Sum                            Monthly Sum

1. The home mortgage amount                                                                   _________________                 ________________   
2. Auto loans                                                                                             _________________                 ________________
3. Student School loans of grandchildren                                                    _________________                  ________________
4. Needs for aging parents                                                                         _________________                  ________________
5. Continuing Ed requirements                                                                   _________________                   ________________
6. Credit Card Debt                                                                                  _________________                   ________________
7. Installment Debt                                                                                     ________________                     ________________
8. Personal loans unpaid                                                                             _________________                   ________________
9. Business or hobby debt                                                                          _________________                   ________________                     
10. Tax benefit loss                                                                                      _________________                    ________________
11. Subtract any currently owned life insurance                                             _________________                    ________________
12. Employer provided life insurance is not always there, since people today change jobs often, and employers change benefits; thus, this should not be included as part of the family protection coverage.
13. Funds to cover possible estate taxes                                                       _________________                     ________________
14. For business owners, funds to cover business continuation options           _________________                     ________________

Total Risk needs to fund                                                                                   _________________                     _________________

For Item 13, we usually ask for twice the take-home pay of the possible person lost. The total of these items should give them the amount necessary to cover the risks at any given time.  Since people may change their marital staus, lifestyle, the economy may change as may other things may, it is neccessary to review the above needs and the life insurance purchased for meeting those intended risks, to keep the protection on track.