Life insurance needs calculator

Estimate how much life insurance your family may need.

Prepared forName (optional)Shown only on the printed report. Not saved or sent anywhere.Your advisorTheir name and contact details appear on the printed report.

Immediate needs Funeral costsProbate and administration expensesTax liabilityTaxes payable at death. Do not include tax on the RRSP; it is added automatically under Other.Pay off debt (mortgage, loans)Education fundsEmergency fundsOther lump-sum needs

Future income needs of your survivor

Before retirement

Number of yearsLiving expenses (monthly)CPP/QPP benefit (monthly)Survivor earned income (annual)Other income (annual)

During retirement

Number of yearsLiving expenses (monthly)CPP/QPP retirement benefit (monthly)Earned income (annual)Other income (annual)

What you have

Existing individual life insuranceGroup life insuranceCPP/QPP death benefitBank balanceRRSPTFSANon-registered investmentsOther

Assumptions

Inflation rate0% to 5%Investment rate of returnAverage tax rateApplied to investment returns and to RRSP withdrawals

ENCOMPASS Estate & Business Solutions Ltd.

Life Insurance Needs Analysis

This is an estimate for illustration only and is not advice. Results depend on the figures and assumptions entered. Please speak with your advisor before making any decisions.

Genadiy Selivanov, BSc, MBM
Insurance Advisor, Investment Representative
ENCOMPASS Estate & Business Solutions Ltd.
Cell: (250) 486-7768 · Email: genadiy@encompasss.ca
encompasss.ca

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Funeral costs
Probate and administration expenses
Tax liability
Pay off debt
Amount required to meet the income needs below
Survivor's annual need until retirement ( years): Survivor's annual need during retirement ( years):
Education funds
Emergency funds
Other (including tax on RRSP)
Total need
What you have