Life Insurance Calculator Canada: Find Your Ideal Coverage
A clear path to financial security. Use our free tool to estimate the perfect life insurance plan for you and your loved ones.
How Much Coverage Do I Need?
Estimate your ideal coverage using the DIME method (Debt, Income, Mortgage, Education). It’s a great starting point for a secure financial future.
Your Recommended Coverage:
This estimate is a great starting point. For a precise recommendation, we advise speaking with a licensed financial advisor.
Which Insurance Type Fits You?
Your goals determine your policy. Answer these questions to get a personalized recommendation for Term, Whole, or Universal Life insurance.
Your Recommended Insurance Type:
Frequently Asked Questions About Life Insurance Calculators
Our life insurance calculator provides a strong estimate based on common financial planning principles (like the DIME method). For a precise and personalized recommendation, it’s always best to consult with a licensed financial advisor who can consider your unique circumstances in detail.
The calculator considers your annual income, desired years of income replacement, mortgage balance, other debts, number of children, estimated education costs per child, existing savings, existing life insurance, and final expenses.
Yes, in addition to calculating your coverage amount, our tool includes a quiz that helps recommend whether Term, Whole, or Universal Life insurance might be a better fit for your goals and budget. This is a great starting point for understanding policy types.
After using the calculator, you’ll have a good estimate of your life insurance needs. Your next step should be to connect with a Secure My Family advisor. They can review your results, discuss policy options, and help you apply for the right coverage to protect your family.