Life Cover Calculator: estimate the term cover your family needs
Life insurance is meant to protect your family if your income stops. This calculator gives a simple estimate of cover based on the income your family would need for the years you have left to earn, plus loans, minus existing cover and investments.
How it is calculated
Cover needed = present value of the income your family needs + loans and liabilities − existing life cover − existing investments.
Worked example
Enter your income, remaining working years, loans and existing cover to see an estimate. It is a starting point, not a recommendation of any product.
Frequently asked questions
Is this the amount I must buy?
No. It is a rough estimate to begin a discussion. A licensed insurance professional can consider your full situation.
Why subtract existing investments?
Savings and investments can also support your family, so they reduce the extra cover needed.
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