InsuranceVilla Financial Needs Analysis (FNA)

Planning note: Cost of living can change quickly. This worksheet intentionally keeps key assumptions editable so the advisor and client can test different scenarios. Government benefits, tax consequences, investment returns, inflation, and insurance availability should be verified at the time advice is given.

1. Client & Household Profile

Primary Client		Spouse / Partner
Date		Advisor
Province		Review Type
Dependants		Target Review Date

Primary goals / concerns

2. Household Income

Income Source	Monthly Net	Annual Net
Primary client employment / business income		$0
Spouse / partner employment / business income		$0
Rental / investment / pension income		$0
Other recurring income		$0
Total Household Net Income	$0	$0

3. Current Household Expenses & Decreased-Expense Review

Enter the household’s current monthly expense. In the “Decrease if one spouse dies” column, enter only the portion that would truly disappear or reduce. Housing and many family expenses may continue.

Expense	Current Monthly	Decrease if One Spouse Dies	Estimated Survivor Monthly Cost
Housing & Home
Mortgage / rent			$0
Property tax / condo fees			$0
Utilities / phone / internet			$0
Home / tenant insurance			$0
Transportation
Vehicle payments			$0
Auto insurance / registration			$0
Fuel / transit / maintenance			$0
Daily Living
Food / groceries			$0
Household / personal care			$0
Clothing			$0
Health / prescriptions / dental			$0
Childcare / dependants			$0
Education / tuition / activities			$0
Dining / leisure / travel			$0
Debt, Savings & Protection
Credit cards / lines of credit			$0
Other loans			$0
Life / health / disability premiums			$0
Regular savings / investments			$0
Other recurring expenses			$0
Total	$0	$0	$0

Monthly Net Income

Monthly Expenses

Current Monthly Surplus / (Shortfall)

Estimated Survivor Monthly Expenses
$0

4. Cost-of-Living Stress Test

Use an advisor-selected planning assumption. This is a scenario tool, not a forecast.

Annual Cost-of-Living Increase Assumption		Current Monthly Household Expenses	$0

Time Horizon	Projected Monthly Cost	Projected Annual Cost	Increase vs. Today
1 year	$0	$0	$0
5 years	$0	$0	$0
10 years	$0	$0	$0
20 years	$0	$0	$0

5. Life Insurance Needs — Five-Step Calculation

The classic quick FNA method uses a family-income target, survivor income, an income-capitalization assumption, available assets, and one-time needs. The assumptions below are editable for current planning.

Step 1 — Family Income Target

Total annual household net income	$0	Target family income to preserve
Annual family income target after death			$0

Step 2 — Available Survivor Income

Surviving spouse / partner annual net income	Government survivor benefits
Investment / pension income	Rental / other income
Total available survivor annual income		$0
Annual income shortfall		$0

Step 3 — Capital Needed to Replace the Income Shortfall

Income-capitalization / withdrawal assumption		Example: at 4%, a $40,000 annual shortfall requires $1,000,000 of capital before other adjustments.
Capital needed to support annual shortfall		$0

Step 4 — Existing Assets and One-Time Financial Needs

Available at Death	Amount	One-Time Needs / Obligations	Amount
Existing personal life insurance		Mortgage balance to discharge
Employer / group life insurance		Other debts / loans / credit
Cash / emergency savings		Final expenses / taxes / estate costs
Non-registered liquid investments		Children’s education fund target
Government lump-sum / other benefits		Emergency / transition fund
Other liquid assets intended for family support		Other family / estate need
Total available assets	$0	Total one-time needs	$0

Step 5 — Estimated Life Insurance Gap

Estimated additional life insurance need

Capital needed + one-time needs − available assets. Minimum shown as $0.

6. Living Benefits & Emergency Resilience

Risk / Need	Current Protection	Target / Exposure	Estimated Gap
Critical Illness lump-sum protection			$0
Disability income — monthly benefit			$0
Emergency fund			$0
Children / dependant protection fund			$0
Other priority reserve			$0

7. Recommendations & Action Plan

Priority	Recommended Action	Target Amount / Goal	Timing

8. Client Acknowledgement

This worksheet is intended to support a needs-based discussion. It is not a guarantee of future results, a tax or legal opinion, or a replacement for insurer illustrations, policy contracts, product disclosure, or current government benefit information. Figures should be reviewed and updated when circumstances change.

Client Signature / Date

Spouse / Partner Signature / Date

Advisor Signature / Date

Next Review Date