Tools & Calculators

Use these free tools. Share them with friends and family.

These tools have been curated to meet most people’s needs and provide you with as many resources as possible. This way you can make informed decisions backed up with hard numbers.

Life Insurance Calculator

The form below will allow you to calculate the amount of life insurance you will need to purchase to take care of your family and final expenses.


question-icon Total amount needed to pay off mortgage
question-icon Total amount needed to pay off loans
question-icon Estimate of post-secondary education $15 000 per child, per year
question-icon It is suggested that your emergency fund be 3 - 6 months of your salary
question-icon It is estimated that your final expenses could cost up to $15 000 (funeral, estate taxes, probate fees, etc.)
question-icon Input the total amount of money you want to leave behind for your family

Determine Value of Current Assets

question-icon Input the total amount of your existing life insurance
question-icon Input the total amount of your liquid assets, such as savings, GICs, or mutual funds
question-icon Total amount in your RSPs
question-icon Input the total amount in any other assets you may have

Contact Majdoub Financial Services today to get a quote for any new life insurance to give your family and loved ones a piece of mind.

Savings Calculator

Calculator Type

This will allow you to calculate how much you will need to invest every year to meet your savings goals.

Tip: Hover over the question mark icons for more information.

question-icon Input your investment goal.
question-icon Number of year you have so save.
question-icon Rate of return on your investment.
question-icon Rate of inflation. 3% is a safe value.

This will allow you to calculate how much you will save over a specified amount of time.

Tip: Hover over the question mark icons for more information.

question-icon Number of year you have so save.
question-icon Rate of return on your investment.
question-icon Rate of inflation. 3% is a safe value.
question-icon This is the amount you will need to invest per year to achieve your savings goal.

30 Point Inspection

Just like your car requires its annual inspection to make sure the brakes, lines, and engine components are working properly, so does your personal financial plan. Hopefully, you already have one in place that was created either by you, or even better, by a professional financial planner. The plan is basically your road-map to retirement and financial security.

As we all know, nothing in life is constant, except change. For that reason you need to take some time every year to review the financial plan you have in place and to make sure that it still meets all of your needs. What follows is a quick 30-point inspection of the basics that should be covered in order to protect yourself financially.

Your Name (required)

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  1. Have changes been made which should be reflected in your Will?

  2. If you die, do your RRSP’s avoid your Estate (Mutual Funds do not)?

  3. Has your income increased in the past year, and does your disability insurance reflect the increase?

  4. If you own term life insurance, has it been reviewed to reflect the newer lower premiums offered by insurance companies?

  5. After debt is paid, how long will the proceeds of your life insurance last? Do you require additional coverage?

  6. Did you pay tax on investment income last year? Would you like to shelter assets to avoid this type of taxation?

  7. Do you have debt, which is not life insured?

  8. Is the bank the beneficiary of your mortgage insurance? If yes, would you like to change this to your spouse or family members?

  9. Do you have a special bequest for charity in your Will? Did you know you can fund this through an existing life insurance policy?

  10. Will the death of a spouse, child or grandchild cause a financial burden on your current finances?

  11. Is your disability insurance organized as a taxable or tax free benefit?

  12. If disabled, can the insurance company force you to return to work if you can work in a different lower paying job?

  13. Have your assets grown so that you should consider reducing your disability and or life insurance coverage?

  14. Do you own a critical illness policy?

  15. Has your family health history changed? i.e. Parents or brothers and sisters? This can affect your insurability for new insurance.

  16. Do you run a business or have business expenses which will continue if you are disabled? Is this covered with Business Overhead Insurance?

  17. Are you concerned about paying for long term care health expenses in the future? Coverage is available.

  18. Has your smoking habits changed? Have you Quit? Do you smoke cigars? Should your insurance company be advised of any change?

  19. Have you arranged for health and dental coverage to continue after your group insurance expires or terminates?

  20. Is you group coverage coordinated with your spouses plan to avoid double premiums and or coverage?

  21. Is your mortgage insured?

  22. Line of Credit Mortgages are now available. Savings can be made. Would lower interest be beneficial?

  23. Has your tax status grown to the point where you can incorporate?

  24. If you are incorporated, is your life insurance owned by the corporation?

  25. Can you benefit from catching up on missed RRSP deposits?

  26. Do you have a written financial plan that you refer back to?

  27. Have you compiled your finances into an easy to use document organizer?

  28. Are you able to deduct interest payments on investment loans?

  29. Do you have a living Will?

  30. Do you feel your finances are completely secure?

Disability Benefits

This calculator provides an estimate for the amount of disability benefit that you qualify for. Self-employed people can add 15%, to a max of $30000, to their annual income.

Please contact us for further details.

For exact benefits available to you, contact Majdoub Financial Services.

Medical residents and incorporated physicians may qualify for more coverage.

Monthly benefits can vary by company.

Income Supplement

This calculator can be used to determine how long your existing and new insurance will cover your family’s needs.

To insure and protect your family, contact Majdoub Financial Services today!

Insurance comparison

Term v. Permanent Life Insurance

Questions Term Life Insurance Permanent Life Insurance
Lifetime coverage? No, coverage is for a specified term Yes
Can more than one life be covered? Yes, single or joint coverage with payout on first death Yes, single or joint coverage with payout on first OR last death
Cost? Increasing premium Level premium
Premium guarantees? Initial premium is guaranteed. Renewal guarantees vary by company Premiums for the basic insurance coverage are guaranteed for the duration of the premium-paying period
Premium flexibility? No, premiums are payable for the entire coverage period Yes, some dividend options allow you to pay premiums with your dividends
Death benefit? Level benefit guaranteed Level or increasing death benefit
Guaranteed cash value? No Yes
Dividends? No Yes
Investment options? No No, a team of professional managers invests pooled assets of all the participating parties
Additional benefits and riders? You can customize your life insurance policy by selecting from a wide variety of optional benefits and riders which vary between products. Contact The Majdoub Group for more details about these options.

CI // DI Statistics

Lifetime probability of developing and dying from cancer

Male Female
Type Developing Dying Developing Dying
All cancers 41.2% 27.4% 37.6% 23.1%
Prostate 12% 3.6% - -
Breast - - 11.4% 3.7%
Lung 8.8% 8.3% 5.5% 5%
Colorectal 6.7% 3.5% 6.1% 3.3%
Lymphoma 2.9% 1.6% 2.5% 1.4%
Bladder 2.7% 1% 1% 0.4%
Body of uterus - - 2.3% 0.6%
Ovary - - 1.6% 1.1%
Kidney 1.6% 0.7% 1% 0.4%
Stomach 1.4% 1% 0.8% 0.7%
Leukemia 1.4% 1% 1.1% 0.7%
Pancreas 1.3% 1.2% 1.3% 1.3%
Melanoma 1.1% 0.3% 1% 0.2%
Cervix - - 0.7% 0.3%

Source: Lifetime probability of developing and dying from cancer, retrieved July 30 2007 from Statistics Canada

TFSA/RRSP Calculator

Can't decide between a Tax-Free Savings Account or an RRSP?

Answer a few simple questions below, and we'll help by recommending which investment is best for you.

What age are you?

How much money do you want to invest this year?

Have you already maxed out your RRSP contributions?

Do you have taxable income you will be reporting?

How much do you expect to earn in the future?

Do you have income-tested benefits like the Child Tax Benefit or Old Age Security?

Contact Majdoub Financial Services today to get helpful advice on how a Tax-Free Savings Account and RRSPs could help you meet your investment goals.

RRSP v. Mortgage

What's Smarter: Investing in Your RRSP or Paying Down Your Mortgage?

Retirement Calculator

Do you know what it will take to create a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement.

Please contact us for further details.