Welcome to the Insurance needs calculator. This easy to follow calculator will help you understand how much insurance cover you, or those that depend on you, may need in the event of your death or in the event of an injury or illness that renders you totally incapable of work.


To consider how much cover you need, you should take a look at the financial burden you're carrying now and how you can protect your own and/or your family’s wellbeing if you can no longer provide an income due to sickness or injury.


Please note that this calculator does not take into consideration insurance cover you already hold or the insurance cover available to you within your superannuation fund.


Important Information

This calculator estimates the life insurance benefit amounts to help you in deciding the level of protection which is suitable for your circumstances.

There are many types of life insurance benefits available in the market and no product is identical to another. This calculator only considers three insurance benefit types, being Death, Total and Permanent Disablement (TPD) and Income Protection (IP).
The way the calculator works is by estimating amounts based on a combination of factors entered by you and a number of assumptions. The factors to be entered by your include information about your assets, liabilities and income. The assumptions used by the calculator include items you cannot change (these are matters fixed by legislation including the superannuation guarantee levy) and items which you can vary (such as the rate of inflation you think might be relevant to you). The assumptions you can and cannot change are identified in the calculator.
The factors you can enter and the assumptions selected have both been chosen by us based on a reasonable appraisal of circumstances commonly taken into account when people consider the protection life insurance can provide.  Where you do not vary the assumptions you are able to change, the calculator will default to amounts we have selected based on reputable surveys and studies (called “default assumptions”).  The default assumptions are based on a combination of government legislature, regulatory guidance and reputable surveys and studies.



This calculator is only intended to be a general illustration of insurance needs based on the assumptions and limitations set out. It is not intended to be relied on for the purposes of making a decision in relation to any specific life insurance product.  We therefore recommend that you consider obtaining financial advice from financial service licensee and considering the relevant Product Disclosure Statement before making any financial decisions.

The calculator bases the estimates on the legislative environment current at the date or its preparation.  This legislative environment, along with your personal circumstances, can change suddenly and the calculator is unable to predict those changes.  It is also subject to a limitation that its estimates only take into account the general features of the life insurance products benefit types we have considered when preparing the calculator. 

We also think you should consider these important factors when using the calculator:

  • Where you have child dependants and do not provide their expense information in detail, the calculator estimates future expenses using the child support tables sourced from the Australian Government Child Support Agency. 

  • The calculator also uses the current income tax brackets (as per the ATO website) and the current superannuation tax rate. 

  • The calculator only includes child dependants. You should also consider the need to support any adult dependants where necessary. 

I have read the disclaimer and assumptions.