InsureRight Calculator - About You

With our InsureRight Calculator, you can complete an analysis of your life, disability and critical illness insurance needs. The calculator uses your financial information today to help you decide how much insurance you may need.

Let’s get started. First, tell us about yourself and your family. Then click on the section you’d like to complete (if you’re not sure of the answers, your advisor can help).

All fields are mandatory unless marked optional


Your information:
Are you a male or female? Please select your gender
What is your smoking status? Please select your smoking status
Your partner’s information:
Is your partner a male or female? Please select your partner's gender
What is your partner's smoking status? Please select your partner's smoking status
Please specify how many children you have
Do you have enough money to send your children to college or university? Please specify whether you have enough money to send your children to college or university

InsureRight Calculator - Life insurance needs analysis

  • Debts and expenses
    How much money do you need to cover your debts and expenses?
    You:
    Your Partner:
    Amount to pay off your mortgage or set up a rent fund:
    Amount to pay off other debts:
    (Include your credit card and line of credit balances, car loans, etc)
    Amount for final expenses:
    Amount to save for post-secondary education (Annual amount):
    x Years
    x Number of children:
    x Years
    x Number of children:
    Subtotal:
    You:0
    Your Partner:0
    Amount for child/home care (Annual amount):
    You:
    x Years
    x Number of children:
    Your Partner:
    x Years
    x Number of children:
    Subtotal:
    You:0
    Your Partner:0
    Other cash needs:
    You:
    Your Partner:
    Total debts and expenses:
    You:
    You:0
    Your Partner:
    Your Partner:0
  • Income
    How much income will your family need if you die?
    You:
    Your Partner:
    Annual household income:
    You:0
    Your Partner:0
    Percentage of annual income your family will need if you die:
    %
    %
    Subtotal:
    You:0
    Your Partner:0
    Partner’s available income:
    You:0
    Your Partner:0
    Annual CPP/QPP benefits:
    Annual income shortage:
    You:0
    Your Partner:0
    Choose if you want to deplete or retain the capital fund:
    How many years will your family need the extra income this fund provides:
    What rate of return do you assume your capital fund will earn?:
    %
    %
    Total amount needed to meet income shortage:
    You:
    You:0
    Your Partner:
    Your Partner:0
  • Assets and existing insurance
    Do you have assets and existing insurance?
    You:
    Your Partner:
    Savings:
    Registered investments:
    Non-registered investments:
    Tax free savings plans:
    Principal residence:
    Other assets:
    Existing life insurance:
    CPP/QPP death benefit:
    Total assets and insurance available:
    You:
    You:0
    Your Partner:
    Your Partner:0

Amount of life insurance that might be right for you

We’ve calculated the amount of life insurance you may need to protect your family and your savings based on the following:
You:
Your Partner:
Debts and expenses:
You:
You:0
Your Partner:
Your Partner:0
Amount needed to meet income shortage:
You:
You:0
Your Partner:
Your Partner:0
Assets and insurance available:
You:
You:0
Your Partner:
Your Partner:0
Your life insurance need:
You:
You:0
Your Partner:
Your Partner:0

InsureRight Calculator - Disability insurance needs analysis

If you become disabled and are unable to earn an income, disability insurance can help you cover your monthly expenses.

If you are over the age of 60, not employed, or your annual income is less than $12,000, disability insurance is typically not available. Your advisor can provide you with more details.

  • Your current employment income
    You:
    Your Partner:
    Employment status:
    Monthly earned income (before tax):
    Maximum disability insurance limit (based on income):
    You:
    You:0
    Your Partner:
    Your Partner:0
  • Your monthly expenses
    You:
    Your Partner:
    Mortgage or rent payments:
    Debt payments (excluding mortgage):
    Savings contributions:
    Other living expenses:
  • Do you already have disability insurance and/or other income?
    You:
    Your Partner:
    Monthly non-taxable disability benefit:
    Monthly taxable disability benefit:
    Average tax rate:
    %
    %
    Other monthly income (Other income may impact your disability insurance eligibility limit):
    Total monthly disability benefits and other income:
    You:0
    Your Partner:
    Your Partner:0

Amount of disability insurance that might be right for you

We’ve calculated the amount of disability insurance you may need to protect your family and your savings.
You:
Your Partner:
Maximum monthly disability insurance benefit available (Adjusted for disability income):
You:
You:0
Your Partner:
Your Partner:0
Monthly expenses (Not covered by other income):
You:
You:0
Your Partner:
Your Partner:0
Your monthly disability insurance need:
You:
You:0
Your Partner:
Your Partner:0

InsureRight Calculator - Critical illness insurance needs analysis

If you get sick, you want to be able to focus on getting better without worrying about money. Critical illness insurance can help replace your regular income or cover your debts and expenses – or both.

  • Do you want to replace your income during recovery?
    Consider other insurance you may have. For example, if you have disability insurance, you may not need to use critical illness insurance to replace your income.
    You:
    Your Partner:
    If you suffer a critical illness, you will want to:
    Replace your income
    Monthly amount ($)
    x Months
    Subtotal:
    You:
    You:0
    Replace your partner’s income
    Monthly amount ($)
    x Months
    Subtotal:
    You:
    You:0
    If your partner suffers a critical illness, you will want to:
    Replace his/her income (monthly amount):
    x Months
    Subtotal:
    Your Partner:
    Your Partner:0
    Replace your income (monthly amount):
    x Months
    Subtotal:
    Your Partner:
    Your Partner:0
    Total required to replace income:
    You:
    You:0
    Your Partner:
    Your Partner:0
  • Do you want to pay your debts and expenses?
    You can use the ‘lump sum payments’ field if you want to reduce or pay off your debt, or you can fill in the number of months you would like to cover expenses.
    You:
    Your Partner:
    Mortgage or rent payments (monthly amount):
    x Months
    x Months
    Subtotal:
    You:
    You:0
    Your Partner:
    Your Partner:0
    Debt payments (excluding mortgage) (monthly amount):
    x Months
    x Months
    Subtotal:
    You:
    You:0
    Your Partner:
    Your Partner:0
    Savings contributions (monthly amount):
    x Months
    x Months
    Subtotal:
    You:
    You:0
    Your Partner:
    Your Partner:0
    Other living expenses (monthly amount):
    x Months
    x Months
    Subtotal:
    You:
    You:0
    Your Partner:
    Your Partner:0
    Lump sum payments:
    Additional expenses not covered by government plans:
    Total debts and expenses:
    You:
    You:0
    Your Partner:
    Your Partner:0
  • Do you have assets and existing insurance to offset costs?
    You:
    Your Partner:
    Savings and assets available to cover expenses:
    Existing critical illness insurance:
    (Include group and personally owned critical illness insurance)
    Total assets and insurance available:
    You:
    You:0
    Your Partner:
    Your Partner:0

Amount of critical illness insurance that may be right for you

We’ve calculated the amount of critical illness insurance you may need to protect your family and your savings based on the following:
You
Your partner
Amount needed to replace income:
You:
You:0
Your Partner:
Your Partner:0
Amount needed to cover expenses:
You:
You:0
Your Partner:
Your Partner:0
Assets and insurance available:
You:
You:0
Your Partner:
Your Partner:0
Your critical illness insurance need:
You:
You:0
Your Partner:
Your Partner:0

InsureRight Calculator - Results

  • Your insurance needs

    Based on the information you’ve provided, we’ve calculated the amount of insurance you may need and how much it may cost. You may find it helpful to discuss these results with your financial advisor. If you don’t have a financial advisor, we can help you locate someone in your area.

    November 28, 2020 - Results are based on:

    You:
    Male, age 37, Smoker
    Amount
    Monthly cost
    Life insurance
    (Family Term, Term - 20)
    Return to life needs analysis
    Amount.0
    Monthly Cost.0.00
    Disability insurance
    (Venture Series 3A-B)
    Return to disability needs analysis
    Why is there a range in monthly costs?
    Amount
    Amount.0Per Month
    Monthly cost.0.00  
    Amount.0Per Month
    Monthly cost.0.00  
    Critical illness insurance
    (Lifecheque - Term 10 with ROPD)
    Return to critical illness needs analysis
    Amount.0
    0.00
    Your partner:
    Female, age 33, Non-Smoker
    Life insurance
    (Family Term, Term -20)
    Return to life needs analysis
    Amount.0
    Monthly cost.0.00
    Disability insurance
    (Venture Series 3A-B)
    Return to disability needs analysis
    Why is there a range in monthly costs?
    Amount.0Per Month per month
    Monthly cost.0.00  
    Amount.0Per Month per month
    Monthly cost.0.00  
    Critical illness insurance
    (Lifecheque - Term 10 with ROPD)
    Return to critical illness needs analysis
    Amount.0
    Monthly cost.0.00

    Life insurance - The amount of insurance has been increased to $100,000 to meet product minimums.

    Life insurance - The amount of insurance has been decreased to $10,000,000. Quotes for amounts greater than $10,000,000 may be obtained from your advisor.

    Life insurance - Family Term – Term-20 is available to clients age 60 and below. Your life insurance need is provided above. Your advisor can help determine which products may be right for you and provide you with a quote.

    Disability insurance - The monthly benefit amount has been increased to meet product minimums.

    Disability insurance - The monthly benefit amount has been decreased to meet product maximums.

    Disability insurance - To be eligible for disability insurance, you must be between the ages of 18 and 60. You must also be employed with an annual income of at least $12,000.

    Critical illness insurance - The amount of insurance has been increased to $25,000 to meet product minimums.

    Critical illness insurance - The amount of insurance has been decreased to $2,000,000 to meet product maximums.

    Critical illness insurance - To be eligible for critical illness insurance, you must be between the ages of 18 and 60.

  • Consider Synergy

    Consider Manulife Synergy® insurance

    3-in-1 life, disability and critical illness protection

    Helping protect your family means safeguarding the life you lead and the people you love, should something happen to you. You can help cover everyday risks with 3-in-1 life, disability and critical illness insurance from Synergy. If you can’t work because of injury, illness or premature death, you can draw on the pool of money through your Synergy policy to:

    • Replace your income
    • Cover your mortgage and debts
    • Supplement gaps in your employer’s group plan
    CHECK OUT MANULIFE SYNERGY®

    November 28, 2020 - Here’s an estimate of how much Synergy you may need based on the information you provided in the life insurance calculator.

    Combination insurance
    (Synergy, Term - 10)

    You:
    Amount0
    Monthly cost0.00
    Your Partner:
    Amount0
    Monthly cost0.00

    You : The cost estimated is for a Synergy - Term 10 solution of $500,000 with a $600,000 term insurance rider term insurance riders are available with a minimum coverage amount of $100,000 for a male/female, age 18-60, smoker/non-smoker.

    Your partner : The cost estimated is for a Synergy - Term 10 solution of $500,000 with a $600,000 term insurance rider term insurance riders are available with a minimum coverage amount of $100,000 for a male/female, age 18-60, smoker/non-smoker.

    Combination insurance - The amount of insurance has been increased to $100,000 to meet product minimums.

    Combination insurance - The amount of insurance has been decreased to $500,000 to meet product maximums. Term insurance riders are available with a minimum coverage amount of $100,000.

    Combination insurance - To be eligible for Synergy insurance, you must be between the ages of 18 and 50

  • Adjust to fit your budget

    Have a budget in mind? Use the slider to adjust the amount and see how it changes the cost (using the information you have entered). You cannot adjust the disability insurance using this tool. Talk to your advisor for more information.

    You
    Life insurance
    Monthly Cost0.00
    Critical illness insurance
    Monthly Cost0.00
    Combination insurance
    (Synergy, Term - 10)
    Monthly Cost0.00
    Your Partner:
    Life insurance
    Monthly Cost0.00
    Critical illness insurance
    Monthly Cost0.00
    Combination insurance
    (Synergy, Term - 10)
    Monthly Cost0.00
    Disclaimer
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