Work out how much insurance cover you might need
To make sure you have enough insurance, it’s important to look at your current circumstances and calculate how much insurance you might need if you were unable to work.
Death and Total and Permanent Disablement (TPD) Cover
The level of Death & TPD Cover you need depends on your personal situation, including your age, the number of dependants you have, any additional family income (e.g. from investments or your spouse), and the amount of your savings and debt
Income Protection Cover
The level of Income Protection (IP) cover is based on your annual salary. If you have not provided this to your super fund, you can do so at the time of applying for insurance to ensure your income is sufficiently covered. You will need to work out your maximum allowable IP cover which will be 85% of your salary or maximum cover of $30,000 per month.
You can work this out by using our IP cost tool.
If you are still unsure about how much cover you need book an appointment with one of our financial planners.
Cost of Insurance Cover
Calculate how much it will cost for your insurance using our cost tools.