Critical Illness Insurance Needs Calculator

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Mortgage monthly amount ($)

Enter the monthly mortgage or rent payments that need to be paid during the illness.

Mortgage number of months

Other debt monthly amount ($)

Enter car loan, credit card, and line of credit payments that need to be paid during the illness.

Other debt number of months

Savings/Investments monthly amount ($)

Enter the amount you want to continue to invest during an illness.

Savings/investing number of months

Other living expenses ($)

Other living expenses: Include food, transportation, clothing, property taxes, and utilities.

Other living expenses number of months

Home care ($)

Personal support workers cost about $200 per day ($25/hour) while Registered Practical Nurses cost about $400 per day ($50/hour).

Home care number of months

Nursing home ($)

Monthly costs for a nursing home can range from $2,000 to $3,000 per month.

Nursing home number of months

Non-insured treatment ($)

Include the cost of using a private clinic or US healthcare.

Medical equipment ($)

Include the cost of items like a wheelchair or a special bed.

Home renovations ($)

Include costs such as ramps, lifts, widening doorways, or refitting a bathroom.

Vehicle conversion ($)

Include the cost of adding wheelchair access to your vehicle.

Other ($)

Monthly income lost ($)

Enter the amount of employment or other income you will lose because of the illness. Do not include income dedicated to mortgage, other debt, and living expenses.

Monthly income sources ($)

Include monthly income from disability insurance plans or other sources such as rental income.

Number of months income changed

Savings ($)

Amounts you have in cash, chequing accounts, savings accounts, or other accounts.

Non-registered investments ($)

Amounts you have in mutual funds, stocks, and bonds that aren't in your RRSP or TFSA.

Existing critical illness insurance ($)

Include existing critical illness insurance plans and group plans.

Other ($)

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Critical Illness Insurance Needs Calculator

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