TD Life Insurance Calculator

Use this calculator to estimate how much life insurance protection you and your family need.

1. Determine your immediate expenses in the event of your death.
Mortgage
(to pay off new or existing outstanding balance)		 $
Personal loans and other debts
(to pay off loans, lines of credit, credit card balances, etc.) 		$
Education fund
($10,000 per child per year is suggested)		 $
Emergency funds
(3-6 months' salary is typically selected)		 $
Final expenses
(including funeral expenses, probate fees, etc.. $15,000 is an estimate)		 $

2. Determine how much you wish to provide for your family
Annual income required for survivors
(70% of your current income plus child care expenses)		 $
For how many years do you wish to provide this income?     years

3. Determine the current value of assets and insurance

Existing insurance
(include group employer and association plans, personal individual coverage, and mortgage insurance) 		$
Liquid assets
(i.e., savings, GICs, T-Bills, mutual funds) 		$
RSPs $
Other assets (include income producing assets such as a second property, etc.) $
assets to be used are the net proceeds that would be received upon sale

When you are satisfied with the values, select Calculate.