Family Planning


Life Insurance is well accepted as the best way to protect children from financial repercussions after the loss of a parent. The financial impact can be horrific and stressful to remaining family members. Recently, the USDA came out with a calculator that determines the cost of raising a child. This tool can be used to quickly determine the shortfall of money–and then you can add on the anticipated cost of higher education to that number.

To access this link, go to

The calculator helps people plan for overall expenses, reflects the number of children in the family, their ages, marital status of the parent, where they live, and total household income. The results reflect the person’s geographic location (what, New Jersey and New York are more expensive to live in than some other States?). If yearly expenses shown are different than what they really are, you can adjust the input accordingly. In particular, you might want to customize child care and education to reflect reality. Again, please remember to add in the college education component at the end.

We hope that this tool is of interest and helpful to you. No matter how much we talk about product features and guarantees, the bottom line is that we sell life insurance to protect families and businesses. Especially in unusual economic times, life insurance can take the bite out of forced asset liquidation and investment shortfalls at very reasonable rates. Discounted dollars mean more in times where there might be less dollars available.


Pat Joline, CLU, ChFC