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

Mortgage balance remaining

What you would still owe today.

Other debts

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

Your annual after-tax income

What actually lands in the account each year.

Years of income to replace

A common anchor: until your youngest finishes school.

Education costs you intend to fund

Less anything already in an RESP.

Final expenses

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

What you already have

Group life insurance through work

Yours and your spouse's, if it covers you.

Existing individual life insurance

Any policy you already own.

Savings your family could use

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

Estimated gap

Fill in the fields and this updates as you type.

Needed: $0
Already covered: $0

This is not an offer of insurance. Submitting a form does not create coverage. Coverage begins only when an insurer approves an application and issues a policy. Nothing here is legal, tax or accounting advice.

This is an estimate, not a recommendation. It does not account for inflation, investment returns, survivor benefits, or the fact that your situation is not a spreadsheet. It is a starting number for a conversation, and it is deliberately the ceiling on anything I would recommend rather than a target.

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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