Disability Insurance Needs

How much income will you need to maintain your standard of living if you are unable to work?
Expand Monthly Income Sources
How much will you have if you become disabled?
Name
is disabled
is disabled
Partner's income
0
0
Info
Partner's income
Enter any income that your partner can provide.
Government sources
0
0
Info
Government sources
Enter benefits from Worker's Compensation, Employment Insurance or CPP Disability benefits.
Existing disability insurance coverage
0
0
Info
Existing Coverage
Enter the total amount of coverage you have through group and private disability insurance plans.
Investments
0
0
Info
Investments
Income from investments returns or from sale of investment, real estate or business assets.
Emergency savings
0
0
Info
Emergency Savings
If you have emergency savings set aside, enter these here.
RRSP withdrawals
0
0
Info
RRSP Withdrawals
These may be a last resort as withdrawals are taxable and have a negative impact on your retirement fund.
Other
0
0
Other
0
0
Other
0
0


Expand Monthly Expenses
What expenses need to be covered?
Name
is disabled
is disabled
Canada
Average Expenses Info
Average Expenses
These figures represent the average expenditure per household in 2017. (Source: Statistics Canada: Household Spending, Canada, Regions and Provinces, Table 11-10-0222-01)
Monthly
Monthly
Housing $2,148 Copy->
0
0
Info
Housing
Include all housing costs such as mortgage/rent, utilities, property taxes, repairs, furnishings.
Transportation $1,059 Clear
0
0
Info
Transportation
Include all vehicle (fuel, financing, insurance, repairs) and commuting costs.
Food $835
0
0
Info
Food
Include amounts spent at grocery stores, restaurants and on alcohol and tobacco.
Insurance/Pensions $428
0
0
Info
Insurance/Pensions
Include insurance premiums and contributions to RRSPs, TFSAs and RPPs.
Recreation $332
0
0
Health Care $323
0
0
Info
Health Care
Include amounts spent on health care and personal care.
Clothing $286
0
0
Gifts/Charity $185
0
0
Info
Gifts/Charity
Include gifts of money, support payments and charitable contributions.
Miscellaneous $165
0
0
Education $161
0
0
Subtotal $5,923
0
0
Other
0
0
Other
0
0


Expand Income Need
What is your income need because of a disability?
Name
is disabled
is disabled
Monthly income sources B
0
0
Monthly expenses A
0
0
* A positive amount indicates an income need. A negative amount indicates an income surplus.

 
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