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Life Insurance Calculator

Work out how much life insurance you and your family may need with our calculator. Simply enter your expenses plus any assets you have below and we will immediately calculate an estimated cover amount. Then you can use this when searching for life insurance quotes. It’s that easy!

To get an idea of cover you may require, you will need to ask yourself a few questions about your finances.

What to Include
  • Mortgage repayments or rent
  • Car expenses, e.g. fuel, maintenance costs, insurance
  • Living costs, e.g. groceries, utility bills, clothes
  • Children's education, e.g. pre-school, school, TAFE, university
  • Debts, e.g. credit cards, loans
  • Funeral expenses
  • Current assets, e.g. savings, superannuation, shares. Find out more about life insurance outside of super

Calculate your cover amount in 3 simple steps

Once you have estimated the cover you may need, you can get a more accurate quote!

Life Insurance Tips

How much Life Insurance do I need?

Insurancey

How much Life Insurance do I need?

By AAMI

Knowing how much Life Insurance you need doesn’t have to be hard. Follow these few tips to get started on working your Life Insurance out.

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1. Includes customers of both AAI Limited and Suncorp Life & Superannuation Limited which hold AAMI branded products.

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.

AAMI Life Insurance and Accidental Injury Insurance are issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (SLSL) and are distributed by Suncorp Financial Services Pty Ltd ABN 50 010 844 621, AFSL 229885 (SFS) under the AAMI brand. AAMI Income Protection is issued by SLSL and distributed by SFS under the brand, AAMI, and AAI Limited ABN 48 005 297 807, AFSL 230859 (AAI), who only issues the redundancy benefit. AAI trading as AAMI does not provide any financial product advice in relation to AAMI Life Insurance, Accidental Injury and Income Protection (except in relation to the redundancy benefit). Eligibility for cover and the payment of any benefit are subject to the relevant terms and conditions including no claim and waiting periods, exclusions, limits and eligibility conditions.

Suncorp supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email info@fsc.org.au or visit www.fsc.org.au