Free Financial Calculators for Canadian Families

Whose life are we measuring?

Only coverage on that person reduces this gap. Run it twice for a couple.

Mortgage balance (CAD)

$

Clear the mortgage with a lump sum

When it is cleared, its monthly payment is removed from the ongoing expenses so it is not paid for twice.

Other debts (CAD)

$

Household essential spending each month (CAD)

$

Of that, the mortgage payment (CAD)

$

Income the surviving partner would earn each year (CAD)

$

Years the family would need support

yrs

Often until the youngest child finishes school, or to retirement.

Coverage already in place on this person, personally owned (CAD)

$

Group coverage through work on this person (CAD)

$

Family protection gap