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Life Insurance Calculator- Compare Life Insurance
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Life Insurance Calculator

Life Insurance Calculator

The estimated coverage quote provided in the calculator above is determined using the following formula:
(Current Annual Income x 10) + (Children x 20,000) + Debts + 10,000

Please note this information and calculator is general advice only and does not take into account your needs, objectives or personal circumstances.

Life Insurance

Life Insurance is a policy for an agreed value between the insured and the insurer Which you make payments for in return for a lump sum payout to be payed out to your beneficiaries such as your family, or your estate upon your departure from this life. Our life insurance calculator can give you an estimate of how much cover you may require as a guide and it is important you decide on what is right for you as each person’s circumstances vary.

Is Life Insurance Important?

If your family is important to you then the answer is yes, life insurance is very important and could be the most unselfish decision you could ever make. We believe in the importance of life insurance so much, that we would like to see it made compulsory in the future. Most of us have lost loved ones and we know the last thing we want our loved ones to think about is money and our creditors but what if the bills were piling up and the creditors were at the door, how would they cope? No one wants to leave their families in such a vulnerable position especially when we were their strongest form of support and are no longer with them.

Life Insurance is very helpful and can assist with:

  • Payment of outstanding debts
  • Payment of the mortgage or rent on the family home
  • Providing a lump sum of money to assist with ongoing living expenses
  • Children’s education expenses

Why use the Life Insurance Calculator:

The life insurance calculator assists in giving you an estimate so you can get started, prioritise and plan. Keep in mind the that the calculator while being a very useful tool it does offer an estimate only and professional advice from an insurance specialist should be sought before making your decision as each person’s circumstances vary.

There are a number of reasons to make use of the calculator and here they are:

  • To plan and prepare with your loved ones
  • To ensure that you are not paying for more cover then is required
  • To work out if you maybe under insured and if additional cover is required

Most Australian's insure their homes and their cars but do not insure the most important asset which is the individual and their ability to produce an income.

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