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How much coverage would you actually need?

Not a multiple of salary. What your household would have to find, minus what is already in force. The gap between those two is the only number that matters.

Coverage-gap inputs and results

What would need paying

Funeral, estate administration, legal and accounting fees.

Lines of credit, car loans, credit cards, business guarantees.

Bring the figure across from the tax at death calculator, or leave it at zero if it does not apply.

Replacing your income

Not your full salary — the part your household actually depends on. Run it to the youngest child finishing school, or to the mortgage ending, or to a surviving partner reaching their own pension.

Net of anything already set aside in an RESP.

What is already in place

Policies you own and pay for yourself.

Kept separate on purpose. It generally ends when the job does, and conversion rights are usually narrow and time-limited.

Cash and investments your household could realistically spend. Leave out anything that would have to be sold at a loss or would trigger its own tax bill.

Estimated shortfall

$0 What your household would need to find from somewhere else
Already covered Shortfall
Final expenses$0
Mortgage$0
Other debts$0
Income replacement$0
Education$0
Tax at death$0
Total need$0
Personal coverage$0
Group coverage$0
Available savings$0
Total in place$0

This is an estimate, not advice and not a quote. It uses published 2026 figures and simplifies heavily. Nothing you enter leaves your browser — there is no server, no account, and nothing is stored or sent. Your actual need depends on household income, expenses, debts, existing assets, coverage already in force and the purpose and duration of the protection. Coverage remains subject to application, underwriting and the issued policy.

Reading the result

A number is not a recommendation.

This total says what the shortfall is. It says nothing about which kind of coverage belongs against it, and that is the decision that costs or saves real money.

Should the whole gap be permanent coverage?

Usually not. Most of a young family's need is temporary — it disappears as the mortgage amortises and the children finish school. Term insurance is built for that and costs a fraction of permanent coverage. What tends to be genuinely permanent is the estate tax liability, since it grows rather than shrinks. Splitting the gap between term and permanent is common.

Why keep group coverage separate?

Because it is not yours. It ends when the employment ends, whether that is a resignation, a layoff, or a disability that stops you working. Conversion rights exist but are narrow and time-limited. Counting it dollar-for-dollar alongside a policy you own overstates your position.

Does this take inflation into account?

No. It multiplies the annual amount by the number of years, without discounting for investment return or adjusting for inflation. Those two pull in opposite directions and roughly offset over shorter horizons. Over twenty years or more they do not, and a proper needs analysis should model them.

What does this actually cost?

It depends on your age, health, smoking status, family history, the term length, and the insurer. Anyone quoting a premium before an application and underwriting is guessing. We quote across the insurers we represent and show you the comparison.

Next: the readiness check →

Start with a conversation.

Thirty minutes, no charge, no product pitch. Bring whatever you have — a will, a policy, a shoebox of paper, or nothing at all. You will leave knowing what is missing and what it takes to fix.

Book a conversation Try the tools first