Critical Illness Insurance Needs

Critical illness insurance can help replace your income and cover expenses and debts if you become ill.
Expand Expense Needs
How much is needed for expenses and healthcare costs?
Name
Name
Mortgage or rent: Monthly amount
0
0
Info
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
Info
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
Info
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
Info
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
Info
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
Info
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
Info
Non-Insured Treatment
Include the cost of using a private clinic or US healthcare.
Medical equipment
0
0
Info
Medical Equipment
Include the cost of items like a wheelchair or a special bed.
Home renovations
0
0
Info
Home Renovations
Include costs such as ramps, lifts, widening doorways or refitting a bathroom.
Vehicle conversion
0
0
Info
Vehicle Conversion
Include the cost of adding wheelchair access to your vehicle.
Other
0
0
Other
0
0


Expand Income Needs
How much income needs to be replaced?
Name
Name
Monthly income lost A
0
0
Info
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 B
0
0
Info
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


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


Expand 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.




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