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    Life Insurance Needs Calculator:
    How Much Insurance Do I Need?

    STEP 1:
    Current Debts And Financial Needs

    (Enter the total amount of outstanding mortgages for your family.)
    (Auto, credit cards, personal, etc. Enter the total amount of loans you would like to pay off upon death.)
    Final Expenses
    (Enter the final expenses including burial, probate, executor fee, uninsured final medical costs.)

    Total for Category A:

    STEP 2:
    Future Financial Needs

    Years of income protection required
    (Based on 3% interest rate discounted by inflation / the number of years you require income protection.)
    Gross income
    (Annual, before taxes.)
    Survivor Requires:
    (Gross Income x 70% x Time Valued Factor)
    Emergency Fund
    (Total for period income protection is needed)
    Attendant-Care Expenses
    (Sum of all child care / aging parent care required.)
    Education Fund
    (We suggest a minimum of 10,000 per year, per child.)

    Total for Category B:

    STEP 3:
    Deduct Assets And Financial Resources

    Cash And Savings
    Total value of any cash or savings you currently hold
    Value Of Stocks And Bonds
    (Estimated value if desired to sell at death)
    Value Of Real Estate
    (Not including your primary residence)
    Business Or Farm Assets
    (Estimated value if desired to sell at death)
    Total Life Insurance Coverage
    Personal, group and other(including pension, CPP or QPP)

    Total for Category C:

    The purpose of this calculator is to estimate your life insurance needs. It can only be as accurate as the numbers that you use. The estimate given for the final result generally represents the minimum coverage you would require. After reviewing, click submit and fill out the quote form by rounding the result up to the nearest available amount of coverage.

    Final Result:

    Life Insurance Coverage Needed

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