Fillable NYL Fact Finder Virtual Meeting Fillable SMRU 1847466 EXP 06302022 V1.1 (New York Life)

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NYL Fact Finder Virtual Meeting Fillable SMRU 1847466 EXP 06302022 V1.1 (New York Life)

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Client 1: First Name Last Name Date
Client 2: First Name Last Name
PROTECTION
INTEGRATED
Foundation first - Focus on life insurance for now.
Address additional components later.
Whole house - Address all applicable components
together, in a connected approach.
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1. What is most important to you? (Could be
anything or anyone.)
Do you own your primary residence?
Yes
No
Market value Mortgage balance Payment Extra payment Years left Loan rate Notes
If no, what is your monthly rent payment?
Use Assets Worksheet if needed.
First name
Date of birth
Relationship
(Client 1) Occupation
(Client 2) Occupation
Work life (Employee? Contractor? Business owner?)
Family life (List children or other dependents.)
Employer
Employer
Annual income
Annual income
What is your tax filing status? Single Married/Joint Married/Separate Head of household Qualifying widow(er)
Use Personal Information Worksheet if needed.
Use Business Owner Worksheet if needed.
1. If you were financially set, and didn’t have to
bring home a paycheck, what would you want your
life to look like?
Date of birth: Client 1 Client 2
2. Tell me about your family.
3. What is your number one financial priority or
concern? What keeps you up at night?
4. Tell me about your work. (Any expected
changes?)
2. What processes or strategies are you using for
your saving and investing?
3. What are your thoughts on education funding for
your children, grandchildren or others?
4. What are your thoughts about Social Security or
other sources of guaranteed lifetime income?
Desired retirement age C1 C2
C1 C2 Jnt
Asset type Variable balance Fixed balance Annual deposits Pre-tax Notes
Would you like a Retirement Analysis? Y N If yes, complete Savings Goals Worksheet.
Owner
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Calculated total survivor needs? Client 1 Client 2 Use Survivor Needs Analysis Worksheet if needed.
1. What are your feelings about risk when it comes
to saving and investing?
Policy type Benefit amount Premium Notes / Issuer
C1 C2
Use Risk & Protection Worksheet if needed.
EE
Benefit
3. How are you currently using insurance to protect
against personal loss (e.g., disability, long-term
care, life)?
2. Tell me about your will or trust (e.g., last review
date, beneficiaries, powers of attorney, executor,
custodian, trustees).
4. Tell me about your debts, loans and liabilities.
Disability insurance
Long-term care
insurance
Life insurance
Debts & liabilities
(Excluding mortgage)
Name of debt Balanced owed Monthly payment Months left Interest rate
Loan Credit Card Other
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Immediate money fund - For bills presented after death, such as funeral, medical, attorney, probate fees, etc.
(Consider 50% of annual household income.)
Emergency fund - For unexpected bills not readily payable from current income, including major repairs to home
or car, medical emergencies, etc. (Consider 25% to 50% of household income.)
Mortgage payoff or rent fund - What would it take to pay-off your mortgage or what amount is sufficient for a
rent fund? (Consider monthly rent amount x 120 months.)
Child / home care - To pay for duties and services formerly performed by the one who died.
(Consider $10,000 to $50,000 x the number of years desired to fund.)
Liabilities / debts - Credit card balances, school loans, auto loans, outstanding loans and other liabilities.
Education fund - Select an amount you wish to provide for education and multiply by the number of children.
Survivor cash needs subtotal
Liquid assets - Enter the amount of liquid assets available, not earmarked for retirement.
Survivor cash needs shortfall (A minus B)
(A)
(B)
(C)
Select the statement you most closely identify with:
I prefer a simplified “big picture” approach. (Skip to section 2 Income replacement needs only.)
I prefer a more thorough approach that considers other variables. (Complete both sections below.)
Use Assets Worksheet if needed.
Client 1 Client 2
Client 1 Client 2
This is not an application. Life insurance applications are subject to underwriting.
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Client 1 ____________________________ Date ________________
Client 2 ____________________________2
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Client 1
This is not an application. Life insurance applications are subject to underwriting.
Income to replace - Enter the amount of gross annual income you wish to provide for your surviving loved ones.
(Consider 60% to 80% of income if top section was completed, or 80% to 100% if completing this section only.)
Years to replace income - Enter the amount of years you wish to provide income for your surviving loved ones.
(Considerations: Until full retirement age? Until kids are independent?)
Additional payout - Enter any additional benefit you would want to leave, not entered in the section above.
(Examples: Charity. Scholarships. Endowments. Specified payouts.)
Income replacement needs subtotal (D times E plus F)
Current coverage - Enter the total amount of death benefit from in-force life insurance policies that you intend
to keep. Use Risk & Protection Worksheet if needed
Income replacement needs shortfall (G minus H. End here for “big picture” approach.)
Total survivor needs shortfall (C plus I)
(D)
(E)
(F)
(G)
(H)
(I)
Client 2
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Years
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Years
Client 1 ____________________________ Date ________________
Client 2 ____________________________2
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Client 1 Client 2
Do you want to factor Social Security into your planning?
At what age do you think you will want to start receiving benefits?
What is your expected monthly Social Security benefit amount?
No
Client 2
No
Client 2
No
At what age would you like to have the option to retire?
What is your current annual income from work?
How much are you currently saving each year?
What is your annual income from other sources?
What percentage of your total income do you want in retirement? (Common*: 70% to 90%)
What rate of return do you expect to average while saving for retirement? (Common*: 5% to 9%)
What rate of return do you expect to average after retiring? (Common*: 2% to 6%)
What do you expect the rate of inflation will be? (Common*: 1% to 5%)
Do you have a defined benefit pension plan at work? (These plans pay a monthly income
upon retirement.)
If so, at what age will the income begin?
What is the expected monthly income amount?
Does the plan allow for a lump-sum rollover?
*Common refers to a range people commonly use, not to any historic or expected range.
Yes Yes
No
Client 1
Yes Yes
No
Client 1
Yes Yes
No
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Client 1 ____________________________ Date ________________
Client 2 ____________________________2
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Name of student
Relationship
Date of birth
How much assistance would you like to provide each year?
For how many years would you like to provide assistance?
At what age (of student) should assistance begin?
How much have you set aside so far in a designated account?
How much are you contributing each year?
What rate of return do you expect to average while saving ? (Common*: 5% to 9%)
Student 1 Student 2 Student 3 Student 4 Student 5
Make values the same for all students.
*Common refers to a range people commonly use, not to any historic or expected range.
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Client 1 ____________________________ Date ________________
Client 2 ____________________________2
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1. Before we consider solutions what else should I
know that we haven’t talked about yet?
In addition to what you are already doing, what would be a comfortable, yet meaningful, monthly amount to set
aside toward accomplishing your goals? (Use Budget Worksheet if needed.)
Are you a US citizen? Client 1 Yes No Client 2 Yes No
Date: Time: Place: Purpose:
Use Contacts & Advisors Worksheet if needed.
Next Meeting:
Are you a smoker? Client 1 Yes No Client 2 Yes No
3. After all we’ve discussed, what are the primary
things you hope to get out of our working together?
2. When it comes to strategy, what are your
thoughts about the future of income taxation?
Will taxes increase, decrease or stay the same?
PROTECTION
Foundation first - Focus on life insurance for now. Address additional components later.
INTEGRATED
Whole house - Address all applicable components together, in a connected approach.
Personal appraisal
Survivor needs analysis
Life insurance portfolio
Protection
Accumulation
Preservation
Include existing employer benefit coverage. Yes No Yes No
Include existing personal coverage. Yes No Yes No
Client 1 Client 2
For your life insurance portfolio…
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●
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The responses that you provide to this questionnaire are intended to assist you in gathering important information about yourself, such as your financial goals, objectives, and
time horizon, and to help you make a more informed decision regarding your specific situation. Your responses are not intended to represent a comprehensive basis for
evaluating suitability or, if applicable, conducting underwriting on any specific insurance, annuity, or investment product.
In the event that you decide to purchase any product, you will need to complete a separate policy application/contract and/or Investor Profile, which will serve as the
governing document in the event any discrepancies and as the basis for the company’s conducting suitability and/or an underwriting analysis with regard to the specific
product that you wish to purchase.
SMRU #1847466 6/30/2022
Survivor Needs Analysis Worksheet
Savings Goals Worksheet
Risk & Protection Worksheet
Assets & Liabilities Worksheet
Personal Budget Worksheet
Personal Information Worksheet
Contacts & Advisors Worksheet
Business Owner Worksheet
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NYL Fact Finder Virtual Meeting Fillable SMRU 1847466 EXP 06302022 V1.1 (New York Life)

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Completed 11 February 2021

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