Life Insurance Calculator

Calculate how much life insurance you need

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Life Insurance Calculator

This simple calculator allows you to estimate your life insurance needs. Complete the following fields and click the Calculate button for results.

Annual Income needs of dependents:
(amount in excess of the amount provided by
Social Security and Current Savings)

$ for years
Annual increase in income:

%
Annual return of investment:

%
Final Expenses:
(include funeral costs, probate fees, legal and accounting fees and tax liabilities)

$

Outstanding Mortgage:

$

Other loans and/or debts:

$

Existing Life Insurance Coverage:

$

Results

Total lump sum needs at death:

$
Present Value of income needs:

$
Total capital needs at death:

$
Need for additional life insurance:

$

Note: This calculator is provided for informational purposes only and Insurance Toronto is not responsible for errors in calculations.