Insurance needs analysis refers to the formal derivation of an evaluative study of the determinants in a person’s life that regulate his need for an insurance. The determinants vary at the executive level and range from emotional to physical security of the person and his family based on which the needs are counted and the report is prepared.

Sample Insurance Needs Analysis

Need analysis of: Meredith Danker

Age: 30 years

Marital status: Single mother

Number of dependants: 3 (Two children and one parent)

Insurance needs analysis done by: Amanda Kernot

Designation of analyst: Consultant

Insurance needs analysis done on: 9th June, 2011

Objective: This insurance needs analysis is directed at fulfilling the insurance needs of the concerned person so that a safe and secured future can be ensured for the client and her dependents.

Determinants of the insurance needs:

1. Aristocratic lifestyle: The lifestyle provided by the client to her dependents is quite high. This makes for a strong property insurance need in order to maintain the level reverentially.

2. Lack of supporting income: Since the client is a single mother and is not supported by a male member in the family, the need for income insurance certainly goes few notches up.

3. Education: Education and college degree is a strong priority for the client and therefore emphasis should be laid on education insurance of the children so that they are not stopped from completing their course.

4. Parental care: A health insurance replete with suitable policies and provisions is also needed as the client has an ageing mother to take care of.


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