How much term life insurance is right
for you?

The question “How much insurance do I require?” seems simple enough. After all, the information is generally straightforward enough. But keeping all the different categories and figures straight can be challenging. That’s where the Life Insurance Needs Calculator comes in. It leads you through a series of questions step-by-step, while keeping track of the big picture for you. Whether you’re starting a family, ensuring you’re able to grow your family or readying for retirement, all you have to do is take it one question at a time, and you’ll have the answer to this important question right in front of you.

Get the right amount of coverage

The Life Insurance Needs Calculator will help you determine the amount of life insurance that may be right for you and your family. With a tax-free benefit range from $50,000 to $1 million (in $25,000 increments), you can get the precise amount of protection you require. The 5-year Term life plan has a maximum coverage amount of up to $750,000, while the 10-year Term life plan has a maximum coverage amount of up to $1,000,000, allowing you to determine what’s right for you. If you were to pass away while covered with a Term Life Insurance for Costco members, your family would receive the benefit amount you determined in one tax-free lump sum, with the freedom to utilize it in any way they see fit. Be it a 10-year or 5-year term; you can choose the plan that best fits your needs and budget. Coverage can cost as little as 12¢ per day.^*

Get invaluable insights

There’s another benefit that comes from using the Life Insurance Needs Calculator that can be almost as important as determining the amount of insurance you need. You’ll gain valuable new insight into your finances – how they fit into your life and budget today, as well as in the future, and what changes, if any, you may consider. 

For instance, answering some questions will shine a revealing light on your debts. This knowledge provides you with valuable, actionable insights into how you spend and borrow and whether you should consider making changes to these patterns. You may learn that your current debt scenario fits perfectly within your existing budget.

The process will also reveal a detailed picture of your total savings and assets. Armed with such precise information, you’ll be empowered to make important financial decisions far more confidently, knowing that nothing has been left out or forgotten. You’ll be confident in the knowledge that there will be no surprises after you’re gone. 

Finally, you’ll gain helpful insights into your current life insurance coverage and whether that amount is sufficient. This information will help you choose the optimal amount and term of life insurance for you. Knowledge is invaluable when you’re faced with making crucial financial decisions.

Get the reassurance you want

We all want to feel that our loved ones will be taken care of if we’re no longer there to support them. Using the Calculator ensures we take every variable into account to remove any guesswork. By quantifying what’s required for your family’s financial security, you’re reassured that your family will be able to cover the costs of living comfortably and be prepared for the future. You’ll also have insight into what other sources of income your family may draw from and how long they will need financial support.

Calculate it today!

Whether you’re starting a family, growing your family or getting ready to retire, you’ll find it reassuring to get a handle on your financial status. Head over to the Manulife Life Insurance Calculator now and see how easy it is to determine your life insurance needs. You’ll reveal insights that will help you feel more confident about the future for you and your family.