After-tax monthly income already provided
This figure represents the amount of income provided from all sources (including capital and any income that your survivor already receives), after your death. Your survivors may be eligible for for Canada Pension Plan or other social security benefits; the need for life insurance is reduced if this is available. For a more detailed analysis, contact a professional financial advisor.

Total after-tax monthly income that will be needed
This figure represents the total amount of income that you feel your family will need after your death. The income you enter should take into account that costs such as final expenses (including uncovered medical costs, funeral expenses and final estate-settlement costs) and other lump sum obligations (such as outstanding debts, mortgage balance, and college costs) may need to be covered by that income.

Pre-tax investment rate of return
Input the gross rate of investment return that you feel could be obtained on estate assets to generate family income after your death.

Marginal tax rate
Input the rate at which the income earned on the investments is to be taxed (i.e. 26, 36, 42, or 45). An illustration for registered investments, such as registered retirement savings plans, may be obtained by inserting "0".

Error message: "Sources must be less than needs in order to display simplified life insurance needs results"
No simplified life insurance needs results can be calculated using the data currently contained in the input tab of this QuickCalc. This is due to the amount entered in the After-tax monthly income already provided entry field being a greater amount than that entered in the Total after-tax monthly incomethat will be needed entry field.