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Life insurance calculator

Estimate of Expenses (Funeral, Medical, Legal):

Estimated outstanding mortgage balance:

Estimated outstanding loans or debts:

Estimated provisions for children:

Estimated other (taxes, emergencies):

How much annual income will you require (less your spouses income):

Estimated time that the above estimated income would be required:

Estimated interest rate earned on invested income (if applicable):

Estimated annual inflation rate (3% avg. last 10 years):

Deduct the value of any assets you hold now (RSPs, Funds, Cash): (Only include portion of savings spouse would use right away.)

 

Total Cash Needs:

 

Total Income Needs:

 

Subtract Value of Assets:

 

The amount of life insurance required: