How much Term Life insurance do you need?

The question we're most often asked about life insurance is "How much do I need?" That's why we offer you this easy worksheet as a guide. Use it to determine how much life insurance you may want for your peace of mind in just a few moments.


  • Please do not enter commas or decimals in numeric fields.
  • Please complete all fields, unless otherwise marked optional.


Your family's immediate expenses and special needs

How much will it cost for your funeral?
How much of your debts will be paid by your estate, including your mortgage, loans, credit cards, taxes. Don't forget the legal and accounting fees to settle your estate!
How much will it cost for your children to attend university?

Your family's monthly income needs

To stay in their home, how much will your family need for rent, property tax, utilities, maintenance, household furnishings and supplies?
How much will your family need for food, clothing, childcare, telephone, car expenses and other routine expenses of living?


The value of your estate

How much other life insurance do you have?
How much cash will be available to pay your debts and expenses from your savings, real estate, RRSPs and other investments, including mutual funds, stocks, bonds, GICs and CSBs?

Additional monthly income for your family

How much money (after taxes) will your spouse be earning?
How much money from other sources will be available to your family?


For how many years would you like to provide an income for your loved ones?