How much life insurance do I need?

A common starting point is the DIME method: add up your family's debts, income replacement (annual income x years), mortgage balance, and children's education costs, then subtract existing savings and life insurance. Most Canadian families land between $250,000 and $1,000,000 in coverage.

Is this calculator's estimate accurate?

It is a solid starting estimate based on the industry-standard DIME method. Your exact need depends on your health, budget, and goals — a free consultation with a licensed advisor turns the estimate into a precise plan.

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How much life insurance do you need?

Q: What happens after I get my estimate?

Use the two buttons below your estimate: Request a callback to get a free quote, or Book a consultation for a 45-minute meeting. No email required — ever.

Don’t guess with your family’s future. Answer a few questions, and we’ll show you the coverage number your family would actually need — with the full math, in plain English.

1Your numbers

2Your estimate

3Your estimate

Coverage calculator

Step 1 of 3 — enter your details. Nothing is shared until you ask us to reveal your estimate.

Annual income ($)What your family would need to replace each year.

Years of income replacementHow many years should the payout support them?

Mortgage balance ($)Amount still owing on your home.

Other debts ($)Car loans, credit cards, lines of credit.

Number of childrenWe’ll add education costs per child below.

Education cost per child ($)Average 4-year degree in Canada is about $50,000+.

Existing savings ($)Money your family could already fall back on.

Current life insurance ($)Coverage you already have, if any.

Final expenses ($)Funeral and immediate costs — often $10,000–$20,000.

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Your family should consider about

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This is a starting estimate, not financial advice. A free 45-minute consultation turns it into an exact plan for your family.

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How the math works

The DIME method, in plain English

Advisors across Canada use DIME because it covers everything a family actually needs — nothing more, nothing less.

Debts

Everything you owe except the mortgage — car loans, credit cards, lines of credit. Your family shouldn’t inherit your bills.

Income

Your annual income × the years your family needs support. Ten years is the most common starting point.

Mortgage

Your remaining mortgage balance, so your family can stay in their home — not sell it under pressure.

Education

Future education costs for each child, minus what you’ve already saved and any coverage you already have.

Common questions

How much life insurance do I actually need?

Most Canadian families land between $250,000 and $1,000,000. The DIME method above gives you a personal number in about a minute — far better than guessing or picking a round number.

Is this estimate accurate?

It’s a solid starting point based on the industry-standard DIME method. Your exact need also depends on your health, budget, and goals — that’s what the free consultation is for.

What happens after I get my estimate?

Nothing automatic — no policy is created and nothing is charged. If you want, book a free consultation and we’ll compare real quotes from 30+ companies for that coverage amount.

Talk to a licensed advisor — free.

No spam, no pressure, no data selling. Just honest advice for your family.

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