Life Insurance Needs Calculator
Estimate how much life insurance cover you may need in Australia, based on your debts, income, dependants and savings. A starting point, an adviser tailors the detail.
This rule-of-thumb covers clearing your debts, replacing income for around 10 years, allowing for children and final expenses, then subtracting savings. Your real need depends on your goals, super and existing cover.
- ✓Check what cover you already hold inside super
- ✓Review cover when your mortgage or family changes
or from $7,456/week over 5 years , indicative finance
Run a insurance adviser? Put a calculator like this on your own website, branded as yours.See how →How we estimate this
A common way to size life cover is the ‘DIME’ method, Debt, Income, Mortgage, Education, clear all debts, replace income for a number of years, and allow for children’s costs, then subtract what you already have in savings and super.
Pricing reviewed: June 2026.
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Put this calculator on your own website, branded to you, visitors get an instant estimate, you get a qualified enquiry with their details.
Understanding life insurance needss in Australia
A common way to size life cover is the ‘DIME’ method, Debt, Income, Mortgage, Education, clear all debts, replace income for a number of years, and allow for children’s costs, then subtract what you already have in savings and super.
Many Australians have default life cover inside their super, but it’s often well below what their family would actually need. Reviewing it against a needs estimate like this is a sensible starting point before speaking to an adviser.
Frequently asked questions
How much life insurance do I need?
A typical approach clears your debts, replaces income for around 10 years, allows for children’s costs, then subtracts your savings and super. This calculator estimates that figure.
Isn’t my super cover enough?
Default cover in super is often much lower than a family’s real needs. It’s worth comparing it against a needs estimate.
Run a insurance adviser? Add this life insurance needs calculator to your own website →