Life insurance calculator

How much life insurance coverage do you need?

Our free life insurance calculator makes it easy for you to estimate how much coverage you and your family may need.

By answering a few simple questions, you can get a clearer picture of how much life insurance coverage you may need for your unique circumstances.

When answering, it’s helpful to think about:

• Your existing life insurance coverage – including any individual policies you already own or coverage provided through your workplace benefits plan.
• Your income and household debt – such as your annual earnings and any outstanding mortgage, loans, or other debts.
• Your financial dependants – whether anyone relies on your income, how many dependants you have, and whether you expect to cover future post-secondary education costs.
• Future financial needs – including unplanned debt, estate planning costs, or potential tax obligations you may want to account for.
• Any additional considerations – such as leaving a charitable donation or a financial gift for someone important to you.

This life insurance calculator uses economic assumptions. If your individual circumstances differ, you may wish to speak with one of our licensed advisors who can help guide you toward a coverage amount that suits your needs and budget.