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Life Insurance Online Life Insurance Calculator

Estimate your life insurance needs with our Life Insurance Calculator. Work out the right level of cover to protect your family and secure their financial future.

Calculator results are estimates only and not quotes. Actual quotes will be provided by a licensed broker after you submit an enquiry.

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	Final Expenses			The expenses listed in this category represent amounts that your beneficiaries would generally require in the form of a lump sum.
	Funeral Expenses			Please provide an estimate amount to set aside to cover funeral expenses. This expense is, of course, very subjective to both the wishes and tastes of your family and any provisions you yourself may have made prior to dying.
	Medical Expenses			Depending on your health insurance arrangements, it is a good idea to make some allowance for final emergency medical expenses.
	Mortgage			This figure should include the mortgage on your residence as well as any investment properties if applicable. Most monthly mortgage statements provide a payout figure which includes the remainder of the principal and interest due. If you have your statement handy, please enter the number below. If not, please estimate.
	Loans & Debts			This number should include all debts (outside of the mortgage) – credit cards, car loans, store credit, personal loans etc.
	Day to Day Expenses			Make an allowance to cover short-term needs for groceries, petrol, clothing and other everyday items for a few months while your family adjusts.
	Childrens' Education			Enter the total amount that you anticipate spending for educating all children over their lifetime.
	Taxes			This figure should include any tax liabilities that you may leave behind. Income taxes are also collected for income earned in the year of your death.
	Rainy Day Fund			Specify an amount to be set aside to handle unforeseen events, usually a few months’ income.

	Continued Standard of Living			Establish the lump sum needed to provide an ongoing income for your family after your death, beyond mortgages, loans, and education.
	Annual Income Required			Enter the ongoing annual income your family would need after your death. Even with debts cleared, everyday expenses continue.
	Years Income Required			The number of years you wish to provide that income (e.g. until youngest child becomes an adult or spouse reaches retirement age).
	Assumed Interest Rate			Estimate a conservative long-term rate of return your family might earn on the invested lump sum (avoid risky/speculative assumptions).

	Existing Arrangements			Here we account for existing financial arrangements that would apply on your death.
	Death Cover in Superannuation			Amount payable from your super on death (may include insurance plus accumulated savings).
	Other Life Insurance Cover			Total benefit payable from any/all life insurance policies on your death.
	Liquid Assets			Estimate what your estate could realise from items such as shares, investments, and savings accounts.
	Company and Other Benefits			Annual value of any government or employer-related payments your family would receive after your death.
	Income Producing Assets			Total value of non-liquid income-producing assets (e.g. real estate), whether or not they would be sold.

Result
				This calculation should be used as a guide only in calculating the amount of insurance that you will require. For a more detailed analysis we recommend that you consult a qualified financial adviser.

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Life Insurance Articles

How Life Insurance and Estate Planning Work Together for Your Benefit

For many Australian families, the concept of estate planning might evoke imagery of vast wealth and complex legal documents, reserved for the very affluent. However, this misconception overshadows the universal importance of having an estate plan, which at its core, is about ensuring your loved ones are cared for and your wishes are honored upon your passing—even if you don't consider yourself wealthy. - read more

The Single Parent’s Guide to Securing Your Child’s Financial Future

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Understanding Your Insurance Needs at Every Life Stage

Navigating the complex world of insurance can often feel daunting, but understanding the importance of life stage consideration when choosing life insurance is essential. As we journey through the various chapters of our lives, our financial responsibilities, dependents, and personal circumstances evolve. These changes invariably have significant implications for our insurance needs. - read more

How Much Life Insurance Do You Truly Need? Assessing Your Personal Coverage

There's often confusion surrounding the amount of life insurance one truly needs. Common misconceptions cloud our judgment, leading some to undervalue their coverage, while others may overinsure, unnecessarily straining their financial resources. It is a delicate balance to strike, and understanding the nuances of life insurance is pivotal to making informed decisions. - read more

Life Insurance Essentials: Protecting Your Growing Aussie Family

Life insurance remains one of the most crucial considerations for new parents aspiring to provide a secure future for their growing families. The arrival of a child marks a transformative moment, redefining priorities and responsibilities. At its core, life insurance is a safety net, designed to offer financial protection and stability to loved ones in the event of an unforeseen tragedy. - read more

Insurance News

AFCA Criticises TAL for Unfair Termination of Income Protection Benefits

16 Nov 2025: Paige Estritori

The Australian Financial Complaints Authority (AFCA) has recently ruled against TAL, a prominent life insurer, for terminating a policyholder's income protection benefits without prior notice. This decision underscores the critical importance of procedural fairness in the management of insurance claims. - read more

Actuaries Institute Highlights Financial Strain of Mental Illness on Insurance Systems

16 Nov 2025: Paige Estritori

The Actuaries Institute has issued a call for immediate action to address the escalating financial strain that mental illness is placing on Australia's insurance and compensation systems. This appeal underscores the pressing need to ensure the sustainability of the nation's financial safety net in the face of increasing mental health-related claims. - read more

Fitch Ratings Anticipates Continued Premium Increases in Australian Insurance Sector

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Fitch Ratings has projected that Australian insurers will continue to implement premium increases, with gross written premiums expected to grow by mid to high single digits. This forecast is driven by the need to offset rising claims and increased allowances for natural hazards. - read more

Surge in Cyber Insurance Adoption Among Australian Businesses

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In the past year, BizCover, a leading small business insurance provider, has reported an almost 50% rise in sales of cyber liability insurance. This significant uptick underscores the escalating awareness and concern among Australian businesses regarding cyber threats. - read more

IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers

14 Nov 2025: Paige Estritori

In a significant development for Australia's agricultural sector, Insurance Australia Group (IAG) has announced a strategic partnership with Ag Guard, a specialist rural underwriting agency. This collaboration will see Ag Guard managing the underwriting for IAG-owned CGU and WFI's crop insurance portfolios starting June next year. - read more

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Knowledgebase

Grace Period:
A set amount of time after the premium is due during which a policyholder can make a payment without the insurance coverage lapsing.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.

Life Insurance Online Life Insurance Calculator

Final Expenses

Continued Standard of Living

Existing Arrangements

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