Calculating your life insurance needs

Hello and welcome to the quick, free, easy to use and understand life insurance needs calculator
Determining how much life insurance you need doesn’t have to be complicated. Working with your insurance advisor, use the following 3 easy steps to find out how much insurance protection you require today to protect your loved ones.

Step 1 : Identify your current debts that would need to be paid in the event of death
Step 2 : Determine your current and future financial needs
Step 3 : Deduct the portion to be recovered by your assets and financial resources

Total of Step 1 + Total of Step 2 – Total of step 3 = Your Minimum Life Insurance Needs
What Province do you reside in?*
Unfortunately this survey is only available for residents of Ontario, Canada currently

- What are your current outstanding mortgages(s)?
- What is the total of your loans & other debts (auto, credit cards, personal, etc…)?
- Final expenses (probate, executor fees, others)
- Miscellaneous post-death costs
- Charitable Contributions
- Total Expenses at time of death:

- What is your current gross annual income?
- What % of your annual income will your beneficiaries will require to maintain current lifestyle (e.g. 70%)
- Annual income your beneficiaries require in today's dollars:
- For how many years will this income be required?
- What real rate of return do you expect your beneficiaries to be able to SAFELY receive? (Subtract inflation from the rate of return you expect to determine real rate of return)
- Assumed time-valued factor
- The total capital you require to generate your desired future income is:
- Additional Long Term Funding Requirements
- How much would you want to rebuild or create an emergency fund for your beneficiaries?
- How much would you estimate in additional child-care and related expenses ?
- How much do you want to save towards your child's future education costs and related expenses?
- Your Total Capital Required To Meet Your Future Needs:

- Only include assets here that you are willing to give up or liquidate in the event of an early death
- Cash and liquid savings
- Stocks, bonds, investment funds
  (enter estimated value if desired to sell assets at death)
- Real estate
  (enter estimated value if desired to sell assets at death)
- Business or farm assets (after tax)
  (enter estimated value if desired to sell assets at death)
- Insured Mortgages(s) and loans balance
- Total current life insurance benefits
- Do you Qualify for CPP Death Benefit?
- Your total assets that you can liquidate and/or use upon death are:
- Your Minimum Life Insurance Need Is
- I understand that the values illustrated in this life insurance analysis are based on financial information that I have provided and my understanding of my future financial needs in the event of my death. The illustrated insurance coverage is subject to medical and financial underwriting. It is strictly for reference and I may decide to take out a life insurance policy with a coverage amount different from the one illustrated above. My insurance coverage has to be reviewed on a regular basis to ensure that my financial goals and objectives continue to be met.
- Name*
- Phone Number*
  Please enter a valid phone number.Format: (000) 000-0000.
- Email*
  example@example.com
- Should be Empty: