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Final Expenses
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The expenses listed in this category represent amounts that your
beneficiaries would generally require in the form of a lump sum.
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Funeral Expenses |
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Please provide an estimate amount to set aside to cover funeral expenses.
This expense is, of course, very subjective to both the wishes and tastes of
your family and any provisions you yourself may have made prior to dying.
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Medical Expenses |
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Depending on your health insurance arrangements, it is a good idea to make
some allowance for final emergency medical expenses.
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Mortgage |
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This figure should include the mortgage on your residence as well as any
investment properties if applicable. Most monthly mortgage statements
provide a payout figure which includes the remainder of the principal and
interest due. If you have your statement handy, please enter the number
below. If not, please estimate.
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Loans & Debts |
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This number should include all debts (outside of the mortgage) – credit
cards, car loans, store credit, personal loans etc.
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Day to Day Expenses |
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Here you can make an allowance to cover the short-term needs of your family
for groceries, petrol, clothing and other items which they consume as a
matter of course for a period of a few months while they adjust to life
without you.
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Childrens\' Education |
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Enter the total amount that you anticipate spending for educating all
children over their lifetime.
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Taxes |
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This figure should include any tax liabilities that you may leave behind.
Income taxes are also collected for income earned the year of your death.
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Rainy Day Fund |
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Here you can specify an amount to be set aside to handle unforeseen events,
usually a few months` income.
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