Our calculator will provide you with the remaining life expectancy of the average Canadian of a particular age and gender, based on the most recent Statistics Canada life expectancy data*.
*Source: Statistics Canada, Life Table for Canada (2010-2012).
Our immediate present value calculator will provide you with the approximate present value of a future stream of $xxx.xx per year, paid monthly, for a given number of years. You will need to select the appropriate discount rate depending on the type of payments (level or indexed) to be made.
For tort claims in Ontario, the discount rate is set annually as per Rule 53.09 of the Ontario Rules of Civil Procedure and is noted as ON in the discount rate drop-down list.
Our deferred present value calculator will provide you with the approximate present value of a future stream of $xxx.xx per year (current dollars), paid monthly, for a given number of years after the deferral period. You will need to select the appropriate discount rate depending on the type of payments (level or indexed) to be made, as well as the length of the deferral period and the payment term.
The Present Value of $2500 per year, paid monthly, for 10 years using a discount rate of 3.00% is $21617.17
Our calculator will provide the current value of a past Court award adjusted for inflation. The current value is calculated using the most recent Consumer Price Index data available. If you are unsure of the month of the Court Award, you can select the Average annual option ("Use Avg. Ann.").
A $ Court award in , adjusted for
inflation*, would be equivalent to $ in
The settlement of your personal injury claim has been concluded. You've chosen to structure a portion of the settlement proceeds, but how much of your settlement should you structure and how much should you take in cash?
Settling higher interest debt (credit cards, etc.) is first and foremost, but what about your mortgage? Should you pay off your mortgage?
Here are a few things to consider when deciding whether to pay down your mortgage:
1. Mortgage Rates
With mortgage rates at all-time lows, it may make more sense to design a structure which would allow you to pay down your mortgage gradually, out of your structure payments, with additional monthly income to spare. Be aware that there are often potential penalties for mortgage pre-payments (often three months' interest), which should be taken into account in making this decision.
If you are concerned about mortgage rates rising in the future, a great way to protect yourself against increasing mortgage rates is to build a lump sum into your structure that pays you in tax-free dollars at the time of your mortgage renewal.
2. Stability of Relationship
"Happily ever after" sounds wonderful, but isn't always realistic. Be aware that if you pay off your mortgage and your relationship breaks down, your partner/spouse likely has a claim against the value of the matrimonial home.
3. Ability to Save
If paying off your mortgage frees up $1500 a month, will you save that $1500? If spending, rather than saving, is your forte, then paying off your mortgage now will not benefit you in the long run.
Our structure specialists will discuss all the variables necessary in determining the perfect design for your structured settlement.