Quick math to figure out how much cover you actually need. Not a substitute for an advisor consultation, but a useful starting point.
How much life cover does your income justify? Rule-of-thumb formula with adjustments for family situation.
Open calculator →The right life cover to clear a mortgage if you're not around to make the payments.
Open calculator →Present-value estimate of your children's post-secondary costs, including residence.
Open calculator →Funeral, probate, and estate-settlement cost estimate.
Open calculator →Sums the four calculators above into a single recommended cover number.
Open calculator →Personalised analysis reviewed by an LLQP-licensed advisor. The real thing.
Start assessment →The classic life-insurance rule-of-thumb. Cover = annual income × multiplier, where multiplier depends on dependants and years until financial independence.
Life cover sized to clear your mortgage. Better than the bank's mortgage life insurance because it's portable, the beneficiary chooses how to use it, and you keep cover even after the mortgage is paid off.
Estimated post-secondary cost per child. Based on current Canadian undergraduate tuition + residence; doesn't include grad school.
Funeral, burial/cremation, probate, executor fees, and estate-settlement legal costs. Often under-estimated, a typical Canadian funeral is $10K–$20K, before probate and legal.
Sums income replacement + mortgage + education + final expenses, less existing assets and existing life cover.
Set values in the four calculators above. Then enter your existing cover + liquid assets here: