Life Insurance Calculator

How much life insurance do I need?

Our life insurance calculator can help you to consider some of the common factors people use to estimate their life insurance requirements.

There are just 2 simple steps to estimate an approximate amount of cover.

Income, costs & debt

Annual income: *

Select the amount of income you would like to cover.

Years to cover income: *

Select the length of time you would like to cover your annual income for your family after death.

Mortgage amount: *

Enter the amount of your mortgage you wish to cover.

Other loans (e.g. Car): *

Enter the amount of any other debts you may have such as credit cards, personal loans, car loans, etc.

Total education costs (per child):

Enter the total education cost per child over the life of their schooling that would like to cover.

Number of children:

To calculate the total education cost, select the number of children to cover.

Funeral costs:

Enter the amount you would like your family to receive to cover your funeral expenses.

Assets & offsets

Superannuation: *

Enter the total amount of any superannuation funds.

Savings: *

Enter the total amount of any savings that would be used as an offset.

Other assets: *

Enter the total amount of any other assets you may consider selling in the event of death. This may include items such as property, shares and vehicles.

Existing life cover: *

If you have an existing life insurance policy or have life insurance in your super, include the total amount of cover here.

Results

The amount of income covered multiplied by the number of years you’ve specified to cover your income.

Total income:

The amount of income covered multiplied by the number of years you’ve specified to cover your income.

Total debt:

The total debt you have chosen to cover including mortgage and other loans.

Total costs:

The total amount of other costs such as education and funeral costs you have chosen to cover.

Total assets & offsets:

The total of superannuation, savings and other assets you would chose to liquidate along with any other life insurance noted.

What is this?

Disclaimer

The purpose of this calculator is to assist you in determining the amount of cover you may require for life risk insurance cover. This calculator is for general guidance only and does not take into account or provide any recommendation on or represent that the estimate calculated is appropriate for, your personal objectives, financial situation or needs.

There are many factors to take into account in determining the level of cover you may require for these types of life risk insurance. The factors included in the calculator cover some of the common liabilities and assets you may want to take into account. However, not all factors or ones that may be relevant to you are covered. You may wish to consider obtaining advice before making any financial decisions.

This calculator is not intended to be relied on for the purposes of making a decision in relation to any specific life risk insurance product and before making any decision on any such product, you should read the relevant Product Disclosure Statement.

Total cover amount = {total}

Life Insurance Calculator

How much life insurance do I need?

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