Calculate Your Critical Illness Insurance Needs
How much critical illness insurance coverage do you need?
Use this quick calculator to estimate how much critical illness insurance you might need. Enter your monthly income plus any other expenses that you would want to be covered by your policy's lump-sum benefit payment.
Note: This calculator is intended to provide estimates only. Please speak to a licensed RBC Insurance® advisor for a recommendation tailored to your critical illness insurance needs.
| Monthly Income and Expenses | Your Information |
|---|---|
| Monthly Income | |
|
(Estimate a minimum of 6 months salary, but account for any disability coverage you have.) |
$ |
|
(Estimate a minimum of 3 months salary for your spouse to take a leave of absence.) |
$ |
| Monthly Expenses | |
|
(Estimate 6 months of payments.) |
$ |
|
(Estimate 6 months of payments.) |
$ |
|
(Estimate 6 months of payments.) |
$ |
| Recovery Expenses | |
|
(For example: housecleaning or childcare services. Estimate 3 days per week for 6 months at $22 per hour.) |
$ |
|
(Estimate $10,000 minimum for modifications such as wheelchair ramps, grab bars, etc.) |
$ |
|
(Estimate $5,000 minimum for a wheelchair or other equipment.) |
$ |
|
(For example: transportation to treatments, hospital parking, etc. Estimate $50 per week for 3 months.) |
$ |
| Totals | |
| Total Expenses: | $ |
| Minimum Coverage Needed: | $ |
Based on the estimates you provided, you would need a minimum of $0 in coverage. To meet your needs, we offer the following plans:
-
Critical Illness Recovery Plan™ Policy
Provides flexible plan options and coverage between $25,000 and $2 million for a wide range of critical illnesses and conditionsDisclaimer(1). (Available to Canadian residents age 18 through 65.) -
Critical Illness Insurance Plan
Provides coverage between $10,000 and $75,000 for cancerDisclaimer(2), heart attack or strokeDisclaimer(1). (Available to Canadian residents age 18 through 50.)