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Life Insurance Calculator

More than half of all Australians have insurance that wouldn't even cover one year's earnings, in the event that they are unable to work. Use this calculator to give yourself an idea about how much insurance you might need to cover yourself and your family.

What you need to consider

When calculating the the amount of life insurance cover you might require, you need to take into consideration a number of factors, including:

  • How much it costs to maintain your current lifestyle, for you and your family
  • How much debt you have
  • Mortage repayments
  • Other costs that could arise, such as medical bills
  • The cost of children's education

In order to help you calculate how much it costs to run your household, it might be helpful to use a budget planner.

Please note that this information is provided as an estimate only and that you should always contact a professional insurance adviser for specific advice that relates to your situation.

1. Your savings and assets

 $

Existing Life Cover

 $

Other Assets

Such as investment properties, but not including your residential home

 $

Total Assets

 $

2. Your loans and debts

Home Loans

 $

Other Debts

Such as personal loans or credit card debts

 $

One-off costs

Such as funeral expenses, children's education or emergency funds

 $

Total Debts

 $

3. Income and cover length

Your age

 years

Income required

Amount of pre-tax income you or your dependents will require to cover on-going living expenses. If you need help calculating how much income you require, consider using a budget planner to help.

 $

Cover length

The number of years you would like to sustain this level of income for

 years
Calculate Clear

1300 Insurance Pty Ltd, a corporate authorised representative of Charter Planning ABN 35 002 976 294 AFSLN 234665 (1300 Insurance), is authorised to distribute and arrange for the issue of 1300 Insurance Ezicover products. The issuer of 1300 Insurance Ezicover products is Zurich Australia Limited ABN 92 000 010 195, AFSLN 232510 of 5 Blue Street, North Sydney, NSW 2060 (Zurich). This information is general in nature and does not take into account personal objectives, financial situation or needs. This information is a summary only and there are relevant exclusions and conditions described in the Product Disclosure Statement (PDS). You should refer to the PDS for further information before making a decision about Ezicover Insurance. If you buy an Ezicover policy, Charter will receive a referral commission from Zurich of up to seventy percent, plus GST, of your insurance premium.