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Ravi Soni

Calculator

How much life insurance do you actually need?

Debts, plus the income your household would lose, plus what you intend to fund — minus what already exists. It runs in your browser and nothing is sent anywhere.

What your household would need

$

What you would still owe today.

$

Car loans, line of credit, credit cards, student loans.

$

What actually lands in the account each year.

A common anchor: until your youngest finishes school.

$

Less anything already in an RESP.

$

Funeral, legal and estate costs. $20,000 is a reasonable placeholder.

What you already have

$

Any policy you already own.

$

Liquid savings only — not the RRSP you would rather they kept.

Noted, but not counted

$

Yours and your spouse's, if it covers you. Recorded for the conversation but deliberately not subtracted — see below.

Why group coverage is not subtracted. It ends when the job ends, which is often the same moment your family needs it. Some plans let you convert to an individual policy without new medical evidence, but the window is short, the premium is set at the insurer's rates, and the option is easy to miss. Coverage you would lose by changing employer is not coverage you can plan around, so it is recorded here and left out of the arithmetic.

Bring this number to a twenty-minute call.

We check it against what your employer already gives you, and price the difference from more than one insurer.

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