Life Insurance Calculator | FaithLife Financial

Life Insurance Calculator


Life insurance helps you leave a legacy for your loved ones – instead of leaving them with debt.

Calculate how much life insurance you may need to pay off debts, cover your mortgage, replace lost income & more!

Note: This calculator assumes 2% inflation and 5% interest earned on investments. It also assumes that the principle value of the investment is retained and only interest is used for income.

Life insurance is one of the best ways to protect your family’s financial future. It can:

Pay off your mortgage

Replace lost income

Fund your children’s education

Maintain your family’s lifestyle

Cover debts, estate taxes and final expenses

Now that you have a better idea of your potential needs, it’s time to speak with the experts. Our advisors can help you understand tax implications, other expenses to consider, and answer any questions you might have.

Book a FREE Needs Analysis with an Advisor at FaithLife Financial

Fill out the form below, and be sure to let us know your preferred times to chat in the Comments box.

¹ FaithLife Financial Representatives have a direct contract with the company to meet with consumers and arrange for the sale, delivery, and ongoing service of FaithLife Financial products.

² You may unsubscribe from FaithLife Financial’s digital communications at any time. For more detail, please contact us through Member Services at 1-800-563-6237 or at 300-470 Weber Street North, Waterloo, ON N2L 6J2. You may view our Privacy Policy online at

*This calculator is for educational purposes only. Tables, charts, and illustrations are for educational purposes and are not intended to illustrate the performance of any security or investment portfolio. Rates and assumptions used in the calculator are not guaranteed. You should not rely on the results as an indication of your financial needs or future financial position. We recommend that you seek your own financial, investment, tax, legal, or accounting advice. The information herein shall not be considered as financial advice, or as a recommendation to enter into any transaction. Speak with a Financial Representative before acting on 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. FaithLife Financial and the FaithLife Financial design are registered trademarks of FaithLife Financial.