RIDGE 1 / PROTECTION

Living Benefits Calculator

Disability and critical illness are risks most people underestimate. This tool helps you see the financial impact of losing your income or facing a serious diagnosis, and whether your current coverage is adequate.

Your Income

Annual Gross Income

Your total annual income before taxes and deductions.

Monthly Fixed Expenses

Rent/mortgage, utilities, groceries, insurance, loan payments, and other recurring costs.

Existing Coverage

Group DI Benefit (Annual)

Annual benefit from employer group disability plan, if any. Check your benefits booklet.

CPP Disability Benefit (Monthly)

Maximum CPP disability benefit is approximately $1,606/month (2024). Most people qualify for less.

Scenario

Emergency Fund Coverage

How many months of expenses could you cover from savings?

3 months

Expected Recovery Period

How long you might be unable to work. Average disability claim lasts 2.5 years.

12 months

Policy Waiting Period

Most DI policies have a 90-day (3 month) elimination period before benefits begin.

3 months

Disability Income Analysis

Adjust the inputs on the left and click calculate to see your personalized results.

This calculator provides illustrative estimates only and does not constitute financial, insurance, or medical advice. Actual disability and critical illness insurance needs depend on your specific circumstances, health history, occupation, and policy terms. The 66.7% income replacement ratio is an industry guideline and may differ from actual policy terms. CPP disability benefits are subject to eligibility requirements. Please consult a licensed insurance professional for personalized recommendations. Five Ridge Financial Ltd. | Alberta, Canada