Input your details in our term life insurance calculator and we’ll give you three options: a budget-friendly option, a “just right” option and an option with extra protection. Each option will have its own term length, coverage amount and estimated price.

Select one of these options and you’ll go to our quotes page where you can customize your coverage. Make the term length longer or shorter. Add more coverage or less. We’ll adjust your estimated monthly premiums as you go.

Like what you see? Go ahead and apply. It takes most people 20 minutes or less and there’s no commitment. Apply together with your partner to save an extra 10% off your rates in the first year.

We never recommend more coverage than you need. There are many features in our calculation that help us do this, such as asking for your partner’s income and any existing savings that could help offset the loss of your income. If you’re ever unsure about your coverage, our non-commissioned advisors are available seven days a week to give you unbiased advice.

Nope, you can use the calculator’s recommendations for any term life insurance product.

We do give you the option to get an instant quote from PolicyMe, 100% online. We offer same-quality policies at lower rates than other options in Canada. We’ve done this by using technology to remove unnecessary steps and costs, and we pass on the savings to our customers.

No. PolicyMe’s term life insurance calculator gives you an estimate of what term life insurance could cost for you. You’ll get your final price when you apply and your application is approved. It’s free to apply.

Yes! If you tell us that you’re single and don’t have any children, we’ll tell you that you don’t need term life insurance. Why? Because no one is relying on your income to live.

We recommend that you put the amount you’d spend on insurance premiums in retirement savings or an emergency fund instead. Then come back later if your situation changes.

Here’s PolicyMe’s approach to calculating your term life insurance needs: we add up the total amount of money that your family will spend if they don’t make any changes to their current lifestyle and subtract out all the money that will be available to your family in the future. Your recommended coverage is needed to make up the difference.

This calculator only recommends term life insurance options. At PolicyMe, we believe most Canadian families need term life insurance, not permanent policies like whole and universal life insurance. Term life insurance covers you when you need it most: when you have loved ones who depend on you financially and/or you have large loans, like a mortgage.

Absolutely not. There are plenty of opportunities to change your term length and coverage amount during the advice, quote and application process. Once you input your numbers in our term life insurance calculator, we’ll present you with three options. You can visit our quotes page and customize your coverage. Or go ahead and apply.

After you apply, you can talk to one of our non-commissioned advisors who can adjust your coverage and term length for you.

Nope! Our term life insurance calculator’s advice is not binding, nor is the quote or application process. Our calculator will give you up to three coverage options. You can then get a quote with zero obligation. If you’re not ready to apply yet, there’s an option to save your quote for later.

If the coverage amount recommended by the Life Insurance Calculator seems too high or too low, start by reassessing the information you provided and consider any additional factors that may not have been fully captured. You may need to adjust the input concerning your debts, future financial obligations, or income changes.

When in doubt, you can also consult with a licensed advisor at PolicyMe for personalized guidance to ensure that the coverage amount fits your specific needs and financial goals​​.