Life insurance · Canada

How much life insurance does your family actually need?

Answer a few questions and see a coverage estimate update as you type. Starting assumptions use conservative long-term estimates you can change.

Example numbers · replace with yours

Additional coverage to consider

Your income

Annual income before tax $

Income your family would need

70%

Years they would need it

15 yrs

For example, until your youngest child turns 18, or longer for a partner.

What your family would owe or need

Mortgage balance $ Other debts car, line of credit, cards $ Children to put through school Education fund per child $ Final expenses funeral, legal $ Emergency cushion $

What you already have

Existing life insurance personal + group at work $ Savings and investments your family could use $

Assumptions

Inflation % per year % Return on the payout % per year %

Defaults: inflation of 2.1% a year and a 3.2% a year return on safe, fixed-income style investments, both before fees. Change either number to see how the estimate moves. The payout is assumed to sit in safe, fixed-income style investments and to be spent down over the years you chose, with the yearly income rising with inflation.