Calculator
Life Insurance Needs
A quick assessment of how much coverage would protect your family's future.
About You
A few basics to personalize your results. This takes about a minute.
Enter what lands in your account each pay period — we'll convert to annual for calculations. Everything is after-tax.
Person
Age —
Total Coverage Need
$23K
$25,000
Debt & Immediate
$0
Other Capital
$0
Income Replacement
$2,500
Existing Coverage
Income Replacement
$0/yr × 60% target over 30 years
Existing Coverage
CPP death: $2,500
$23K Coverage Gap
~$1,880/mo in term coverage • Locking in coverage now helps manage cost.
Income Replacement
Present-value annuity discounted at 4% net return. Target: 60% of combined net household income.
Debt Clearance
Outstanding balances entered as at August 31, 2026. Funeral/final expenses and emergency fund included in immediate capital.
Existing Coverage
Group insurance, individual policies, and CPP Death Benefit (max $2,500) offset the gross need. RRSP/TFSA/savings deducted if selected.
Limitations
This analysis is illustrative only and does not constitute financial advice. Tax implications, policy terms, and personal circumstances vary.
Regulation
Life insurance in Canada is provincially regulated. Licensed advisors in each province must follow applicable suitability standards.
Prepared by
Onvisor Inc. • onvisor.ca • August 31, 2026
For discussion purposes only.
This report was generated by Onvisor’s Life Insurance Needs Calculator and is intended for discussion purposes only. It does not constitute financial, legal, or insurance advice. Values are based on information provided and may not reflect all circumstances. A licensed advisor should be consulted before making any insurance decisions.