Insurance Calculator

To estimate how much life insurance you need, just follow these three easy steps.

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Final expenses(to pay for funeral, taxes, etc. ($5,000–$20,000)$Final Expenses: A funeral can cost anywhere from $5,000 to $20,000 or more, depending on whether you plan for cremation or burial and how expensive your choices are (coffin, location, etc.). In addition, you should consider expenses such as probate fees, final income taxes, legal and accounting fees and executor fees, if any.x

Mortgage (to pay off the outstanding balance) $Mortgage: What is the outstanding balance of your mortgage? If in doubt, you might use the original principal amount as a conservative estimate or use an amount that you would like to pay off.x

Personal loans (to pay off loans, credit cards, etc.) $Personal Loans: Consider any bank loans, car loans, loans from credit unions or other financial institutions, credit card outstanding balances, loans from friends, etc.x

Emergency funds (3-6 months’ salary) $Emergency funds: Most experts recommend at least 3 to 6 months of salary as a reasonable amount for an emergency fund to cover unexpected expenses and tide your family over.x

Children’s education fund ($10,000-$25,000 per year, per child)$Children’s Education Fund: The amount you set aside for your children’s education depends on many factors including: • Are you considering private school or public school? If private school, consider tuition and room and board if appropriate • For post-secondary education, average costs range from $5,000 to over $25,000 per year • College is typically 2 to 3 years • University is typically 3 to 4 years plus graduate school • Average tuition is $6,838 (Stats Can 2018/19) • Books and supplies are typically $800 to $1,000 (Financial Consumer Agency of Canada 2018/19) • Additional compulsory fees such as athletics and student health services cost an average of $921 (Stats Can 2018/19) • Accommodation, food and transportation can cost $10,000 to $15,000 per year. x

Your Insurance Results

  • TOTAL CASH NEEDS 00
  • INCOME REPLACEMENT +00
  • ASSETS & INSURANCE -00

AMOUNT NEEDED

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If your analysis indicates a shortage, life insurance may be the ideal solution to address it.

Ages 18-80 years can apply.*

Date of Birth
Gender
Coverage Amount$
*Non-residents require a work permit
Payment Preference
Within the past 12 months, have you used by any means, a substance or product containing tobacco or nicotine (excluding cigars), or have you smoked (including electronic vaporizer or “vaping”) marijuana more than four times per week?[1]
[1] Our best rates may require 24 months of
non-smoking.

Results

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Plan Description

Coverage Amount ($)

Premium As Low As ($)

Term Life Insurance

Permanent Life Insurance

[1] The minimum coverage amount for these plans.
[2]Non residents require a valid work permit.
[3] Quotes are for our most competitive plan. Your actual premium will be based on the plan selected for which you qualify.
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