Find the right amount of coverage.

What's the right amount of insurance for me?

Answer nine simple questions and this calculator can help you estimate the amount of insurance that may be right for you.

How much do you need to cover your debts?

1. Amount to pay off your mortgage
(Current mortgage balance)

$
Please enter an amount between 0 and 10,000,000 for Question 1

2. Amount to pay off other debts
(Car loans, credit cards, etc.)

$
Please enter an amount between 0 and 1,000,000 for Question 2

3. Estimate of funeral costs and final expenses
(The average funeral costs about $15,000)

$
Please enter an amount between 0 and 1,000,000 for Question 3

Total debts

$ 15,000

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How much do you need for your children's education?

4. Cost of post-secondary education
(As an estimate use $15,000 per year per child or $60,000 per child)

$
Please enter an amount between 0 and 1,000,000 for Question 4
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How much income will your family need if you die?

5. Your total annual income before taxes

$
Please enter an amount between 0 and 1,000,000 for Question 5

6. Percentage of your income that your family
would need after your death
(As an estimate you could use 60-75%)

%
Please enter an amount between 0 and 100 for Question 6

7. How many years will your family need this
income?
(Consider the number of years until your children graduate or years until your spouse retires)

Please enter an amount between 0 and 100 for Question 7

Total amount for income replacement

$ 0

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Do you have assets and insurance to offset your financial needs?

8. Liquid assets
(Mutual funds, bonds, etc. Does not include your home or RRSPs)

$
Please enter an amount between 0 and $5,000,000 for Question 8

9. Existing life insurance
(Personal, group and mortgage insurance)

$
Please enter an amount between 0 and $5,000,000 for Question 9

Total assets and insurance

$ 0

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Results

Debts
$0
Education
$0
Income replacement
$0
Assets and insurance
- $0

Amount of insurance that may be right for you:

$ 0

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This calculator provides an estimate of the amount of life insurance you may need and is not meant to be a detailed analysis of your Synergy needs. Understanding your life insurance need is a good start to determining the right amount of Synergy for you. Your advisor can help you find a Synergy solution that balances your need for affordability with your need for life insurance, critical illness insurance and disability insurance protection. Your insurance needs will change over time. You should consider a periodic review of these changing needs with your advisor. Interest or inflation rates are not used in the calculation of this estimate.