Estimate how much life insurance your family may need based on income replacement, spouse or partner income, current savings, debt, and long-term goals. Then review a personalized Safe Crest family coverage summary you can print as a PDF.
The tool estimates how much capital may be needed to replace a portion of income until retirement age, based on the replacement ratio and planning assumptions you choose.
It asks for the number of children and the age of each child to inform the discovery conversation. Once mortgage and income are funded, education savings can usually be built from the income replacement stream — so the headline number stays focused on the obligations that must be funded as a lump sum.
Mortgage balances, other debt, and final expenses are included because these are often the first obligations families want paid off if a parent dies.
The report includes simplified province-based assumptions so the estimate is more relevant for families in Alberta and British Columbia. That helps the tool contribute context around local planning instead of behaving like a generic calculator.
Answer a few short questions about income, children, debt, and goals. Then review a personalized family life insurance summary at the end.
Based on your answers, here is a plain-language summary of your estimated life insurance needs and where gaps may exist.
These numbers are a starting point — not a quote. If it makes sense to explore actual coverage, here is what the path typically looks like. No obligation to continue at any step.
This is how the total coverage estimate is built — what you may need, what you already have, and the resulting gap.
| Item | Amount | What it covers |
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Life insurance is often used to clear outstanding debt so your family keeps the home and starts fresh. This table shows each debt at its current balance, which is what life insurance would need to cover.
| Debt | Balance |
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This table shows every component that goes into the total estimate so you can see exactly where the number comes from.
| Need category | Amount | Comments |
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Life insurance covers death — but what if you got hurt or sick and couldn't work for months or years? That's what disability coverage is for. Statistically, you're more likely to be disabled during your working years than to die.
Most people only need term insurance — it's cheaper and covers them while they have dependents and debt. Permanent insurance makes sense when you have needs that don't go away, like estate taxes or a legacy goal.
Life insurance covers death — but what if you survive a stroke, cancer, or heart attack? Critical illness insurance pays you a tax-free lump sum so you can focus on recovery instead of worrying about bills. About 1 in 2 Canadians will be diagnosed with cancer in their lifetime.
This is a simplified planning estimate — not an underwriting figure. It uses the following components:
| Component | Amount | Why it's included |
|---|
These are the planning assumptions behind the numbers. They are simplified estimates — your accountant can review the exact tax implications for your situation.
This report is intended for educational and planning discussion purposes only. It is not legal, tax, accounting, underwriting, or actuarial advice. Eligibility, pricing, policy structure, ownership, beneficiary designations, and tax results depend on the insurer, the policy selected, and your personal and corporate circumstances. Any recommendation should be reviewed with a licensed insurance advisor and, where appropriate, your accountant and legal advisor before coverage is placed or changed.