Life Insurance Calculator

Life Cover

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.

1. Your savings & assets

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$
$
Such as investment properties, but not including your residential home.
$

2. Your loans & debts

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$
Such as personal loans or credit card debts.
$
Such as funeral expenses, children's education or emergency funds
$

3. Income & cover length

$
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.
years
years
The number of years you would like to sustain this level of income for. Typically you would estimate how many years until you expect to retire, and use that number here.
Calculate Clear

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.

1300 Insurance Pty Ltd ABN 50 124 845 727 AR Number 327609 is authorised to refer you to the insurer Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFSL 296559 (Allianz Life) and to provide written general advice on this insurance as the insurer’s agent. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision, please consider the Product Disclosure Statement. If you purchase this insurance, we will receive a commission which is a percentage of the premium. Ask us for more details before we provide you with services.