Separation & Divorce Insurance Calculator (Child Support Calculator Canada)
How To Use The Rebalancing Beneficiaries Calculator
Many separated moms and dads are required by their Separation / Divorce Agreement, Divorce Order or Court Order, to secure support payments. Rebalancing Beneficiaries Support Insurance allows an insurance policy to secure those payments while allowing additional beneficiaries such as children or a new partner to be included on the policy.
Try our Support Calculators as Child Support Calculator Canada. Your calculations can be saved for use at a later time by joining our Co-Parent / Professional Membership.
- If you’ve made calculations with our calculators the information is available for the Rebalancing Beneficiaries Calculator. If this is a new calculation it can be done manually.
- Determine your support requirements and check the appropriate boxes.
- You may enter either your monthly or yearly payments, or other expenses.
- Make sure to enter the number of years for support obligations, for each child, according to your Agreement, Divorce Order or Court Order.
- The calculator allows you to estimate your share of Children’s Future Special Expenses (College, University, Special Needs, etc.). Enter the estimated Yearly Amount / child and the number of years needing the support. For example: If your share for the estimated future costs for college / university is $10,000 / year for 4 years and you have 2 children, your share would total $80,000.
- Once you’ve completed your requirements for A, B, C, D and E use the COLA (Cost of Living Adjustment) Calculator to adjust for inflationary costs or increased support obligations due to increasing wages.
- The calculator will provide a suggested amount of insurance required, however, insurance may be purchased in $1,000 increments.
- Critical Illness Insurance is a form of health insurance protection that provides a lump sum benefit should you survive a serious illness or condition covered by your policy. Illnesses such as Cancer, Heart Attack or Stroke can have an impact on you, your ex-spouse or partner and family members, on an emotional and financial level. Critical Illness coverage provides a lump sum payment to help with your support obligations.
- Long-Term Disability Insurance provides a monthly payment (when medically qualified) to help with your monthly personal financial requirements and support obligations.
- To get a Rebalancing Beneficiaries Support Insurance quote, from some of North America’s leading insurance companies, press the “Get Insurance Quote” button.