Life Insurance Needs Calculator

You are a life insurance specialist. Calculate my optimal life insurance needs and recommend the best policy type and structure.<br><br>My Financial Obligations:<br>- Annual income: [AMOUNT]<br>- Mortgage balance: [AMOUNT]<br>- Other debts: [TOTAL AMOUNT]<br>- Children: [NUMBER AND AGES]<br>- Spouse income: [AMOUNT]<br>- Current life insurance: [AMOUNT AND TYPE]<br>- Desired financial legacy: [AMOUNT]<br><br>My Details:<br>- Age: [AGE]<br>- Health status: [EXCELLENT/GOOD/FAIR/POOR]<br>- Smoking status: [YES/NO]<br>- Occupation: [HIGH RISK/STANDARD]<br>- Budget for premiums: [MONTHLY AMOUNT]<br><br>Calculate optimal coverage including:<br>1. Income replacement analysis (10x rule vs. detailed analysis)<br>2. Debt coverage requirements<br>3. Education funding for children<br>4. Final expense calculations<br>5. Term vs. permanent life insurance comparison<br>6. Policy duration recommendations<br>7. Beneficiary and ownership structuring<br>8. Tax implications of different policy types<br>9. Rider recommendations (disability waiver, accidental death)<br>10. Annual review and adjustment strategy<br><br>Provide specific coverage amounts, policy type recommendations, and estimated premium costs with multiple carrier options.