How much life insurance
do you need?
Answer five questions and get a personalised cover recommendation based on your mortgage, income, and family situation. Instant, free, no sign-up required.
Your details
Please enter your annual salary to continue
Used to estimate the income your family would need to replace
How many dependent children do you have?
Does your employer provide death-in-service cover?
Recommended cover
Estimated range: $200,000 – $300,000
How we got there
Recommended policy type
Suggested policy length
25 years
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Our estimate uses the four-component formula recommended by most independent financial advisors in the US:
- Mortgage clearance — the outstanding balance, so your family could keep the home debt-free
- Income replacement — your salary multiplied by the number of years until your youngest child turns 18
- Childcare buffer — a modest allowance of $5,000 per child per year to cover wraparound care and childcare costs
- Death-in-service offset — any employer benefit you already have is subtracted, since that cover is already in place
If you have no children, we use 15 years as a default income replacement period — this covers the period of highest financial exposure for most families.
This is a guide, not financial advice. Your exact needs depend on your full financial picture — for personalised guidance, speak to an licensed insurance advisor.
Read our full guide on calculating life insurance cover →This calculator provides an estimate only and does not constitute financial advice. For personalised recommendations, speak to a licensed financial advisor.