Critical Illness Insurance Needs

Critical illness insurance can help replace your income and cover expenses and debts if you become sick.
Single needs or with a partner?
Show signature lines on report?
Expense Needs
How much is needed for expenses and healthcare costs?
Name
Name
Mortgage or rent: Monthly amount
0
0
Mortgage/Rent
Enter the monthly mortgage or rent payments that need to be paid during the illness.
Number of months
0
0
Subtotal
0
0
 
Other debt: Monthly amount
0
0
Other Debt
Enter car loan, credit card and line of credit payments that need to be paid during the illness.
(excluding mortgage) Number of months
0
0
Subtotal
0
0
 
Savings/Investments: Monthly amount
0
0
Savings/Investments
Enter the amount you want to continue to invest during an illness.
Number of months
0
0
Subtotal
0
0
 
Other living expenses Monthly amount
0
0
Other Living Expenses
Other Living Expenses: Include food, transportation, clothing, property taxes and utilities.
Number of months
0
0
Subtotal
0
0
 
Home care Daily amount
0
0
Home Care
Personal support workers cost about $200 per day ($25/hr) while Registered Practical Nurses cost about $400 per day ($50/hr).
Days per month
0
0
Number of months
0
0
Subtotal
0
0
 
Nursing home Monthly amount
0
0
Nursing home
Monthly costs for a nursing home can range from $2,000 to $3,000 per month.
Number of months
0
0
Subtotal
0
0
 
Non-insured treatment
0
0
Non-Insured Treatment
Include the cost of using a private clinic or US healthcare.
Medical equipment
0
0
Medical Equipment
Include the cost of items like a wheelchair or a special bed.
Home renovations
0
0
Home Renovations
Include costs such as ramps, lifts, widening doorways or refitting a bathroom.
Vehicle conversion
0
0
Vehicle Conversion
Include the cost of adding wheelchair access to your vehicle.
Other
0
0
Other
0
0


Income Needs
How much income needs to be replaced?
Name
Name
Monthly income lost A
0
0
Monthly Income Lost
Enter the amount of employment or other income you will lose because of the illness.
Monthly income sources B
0
0
Monthly Income Sources
Include monthly income from disability insurance plans or other sources such as rental income.
Net monthly income lost (A-B)
0
0
Number of months
0
0


Available Assets
How much do you have to offset expenses and loss of income?
Name
Name
Savings
0
0
Savings
Amounts you have in cash, chequing accounts, savings accounts or other accounts.
Non-registered investments
0
0
Non-Registered Investments
Amounts you have in mutual funds, stocks and bonds that aren't in your RRSP or TFSA.
Existing critical illness insurance
0
0
Existing Insurance
Include existing criticial illness insurance plans and group plans.
Other
0
0
Other
0
0
Other
0
0


Your Critical Illness Insurance Need
How much insurance do you need?
Name
Name
Expense needs
0
0
Income needs
0
0
Total Expense & Income Needs $0 $0
Less available assets $0 $0
* A positive amount indicates an income need. A negative amount indicates an income surplus.




 

Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. ©Copyright 2019 Ativa Interactive Corp. All rights reserved. Powered by Ativa.com.