Coverage Need

Final expenses (to pay for funeral, taxes, etc. ($5,000–$20,000)

$

Mortgage (to pay off the outstanding balance)

$

Personal loans (to pay off loans, credit cards, etc.)

$

Emergency funds (3-6 months’ salary)

$

Children’s education fund ($10,000-$25,000 per year, per child)

$

Monthly income to take care of your family

$

For how many years?

Y

Savings (savings and investment accounts, RRSPs, TFSAs, etc.)

$

Other assets (property, business, vehicles, etc.)

$

Existing life insurance (including group plans, individual policies)

$

EQUALS: Surplus

Immediate Cash Needs Calculator