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Insurance Right Calculator

This calculator provides an estimate of how much life insurance you may need to cover the loss of income to your family should you die. Determining your life insurance needs should be done with the help of a financial advisor.

Please enter any amounts that apply and click the "Calculate" button. Fields marked with an asterisk (*) will be automatically calculated.

(All calculations are restricted to your computer. No information is sent over the Internet.)
Liabilities and cash needs
 Mortgages
 Loans and other debts
 Final expenses (burial, taxes, probate, lawyer fees)
 Education Fund ($ x yrs. x children)
 *
 Child/Home care ($ x yrs. x dependents) *
 Other cash needs (emergency fund, bequests, etc.)
 Total liabilities and cash needs *
 
Amount of money needed to provide income
 Gross annual income needed
   Partner's income
   Annual CPP/QPP benefits
 Gross annual income available *
 Annual income shortage/surplus *
 Assumed rate of return (adjust for inflation, if desired) %
 Amount of money needed to meet income shortage *
 
Total amount of money required *

Assets (usable by family/partner)
 Cash assets (savings, T_bills, CSBs, etc.)
 RRSPs
 Stocks, bonds or funds
 Principal residence
 Real Estate
 Total life Insurance (group, personal, mortgage, credit)
 Business/farm assets
 CPP/QPP death benefit
 Other assets (e.g. pension plan death benefit)
 Total amount available *
 
Total new amount required *