Free Simulator · Quebec 2026
Life insurance need calculator
DIME method or replacement capital — get a personalized amount in 2 minutes. No registration, 100% anonymous.
Important notice — simulation tool only
This calculator provides an indicative estimate for informational purposes only. It does not constitute financial advice and in no way replaces the analysis of an AMF-certified financial security advisor. Only a licensed professional can assess your complete situation (balance sheet, estate goals, taxation, suitable products) and recommend personalized coverage. Results may vary depending on the assumptions used.
Simulator: how much life insurance do you need?
Two approaches recognized in Quebec to estimate your life insurance capital. Choose the tab that works best for you, or use both to compare results.
Estimate your life insurance needs
Your data remains on your device — no transmission to the server.
D — Debts to be repaid
I — Income replacement
M — Mortgage balance
E — Children’s education
Credits to be deducted (optional)
Your situation
Economic Assumptions
Final Expenses & Credits
$0
Recommended amount of life insurance
⚠ Indicative estimate only. Does not replace the advice of an AMF-certified financial security advisor. Consult a professional for a recommendation tailored to your complete situation.
DIME or replacement capital: which one to choose?
🧮 DIME Method
For whom? Families with mortgages, debts, dependent children. Quick result based on your current obligations.
Advantage: Simple to fulfill, covers the 4 immediate critical needs. Limit: Does not take into account inflation or investment returns.
📊 Replacement capital
For whom? Professionals, high incomes, long career. Updated calculation that takes inflation and yield into account.
Advantage: More precise to cover a standard of living over 20-30 years. Limit: Request to make economic assumptions (inflation, yield).
💡 Broker’s advice
Do both calculations and take the higher amount. The result often varies by 30 to 50% between the two methods depending on your situation. An AMF-certified broker can then refine the figure with you, taking into account your plans (e.g., pre-retirement, accelerated mortgage, testamentary trust).
Understanding the 4 components of the DIME method
Debts
Credit cards, line of credit, car loans, student loans. Any debt that survives your death and falls on your loved ones or estate.
Income
Your annual income multiplied by the number of years your loved ones will need financial support. Classically 10 years old in Quebec, until the children are autonomous.
Mortgage
Residual balance on your mortgage — and other home loans (cottage, rental). Paying off the mortgage frees the family from a major burden and secures the home.
Education (studies)
Estimated cost of post-secondary education per child. In Quebec, $40,000 per child is a realistic order of magnitude (CEGEP + university, including residence).
Replacement capital — the formula in detail
The replacement capital method uses the present value of an annuity. It answers the question: “How much capital invested today, at a given return, could pay the missing income to my family until I retire, taking inflation into account?”
where:
• P = annual net income ×% for the family
• r = real rate (return − inflation)
• n = number of years until retirement
Concrete examples in Quebec
| Profile | DIME | Replacement | capitalRecommendation |
|---|---|---|---|
| Couple, 2 children, mortgage $240,000, income $75,000 | $1,055,000 | $1,150,000 | $1,200,000 |
| Single, no children, condo $185,000, income $55,000 | $420,000 | $395,000 | $500,000 |
| Professional 45 years old, 3 children, income $120,000, debts $320,000 | $1,640,000 | $1,780,000 | $2,000,000 |
| Young worker 28 years old, spouse, no children, income $52,000 | $280,000 | $410,000 | $500,000 |
Frequently asked questions about calculating the need for life insurance
What is the difference between DIME and replacement capital?
How much life insurance should an average Quebecer have?
Should my employer’s group insurance be included in the calculation?
What term should I choose for term insurance?
Is the result of the calculator guaranteed?
At what age should I review my needs?
What are the average funeral costs in Quebec?
Is my data confidential?
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Legal Limitations and Warnings
The calculations presented on this page are based on data entered by the user as well as general assumptions (inflation, yield, duration) that can vary significantly depending on each situation. The result displayed is a need estimate and not a personalized recommendation.
Assur360 and its partner brokers, certified by the Autorité des marchés financiers (AMF) and the Chambre de la sécurité financière (CSF), recommend consulting a licensed financial security advisor before taking out any purchase. Only he can analyse your complete balance sheet, your estate objectives, your tax situation and present you with the insurers’ products that correspond to your needs.
This simulator does not constitute a contract, an insurance offer, or a financial or legal opinion. The amounts, rates and examples are presented for educational purposes. Life insurance products are subject to insurer approval, exclusions, limitations and conditions that will be specified in the official contract.