Income Protection Insurance Australia

Australia's premier online income protection insurance resource

Income Protection Insurance Australia :: Calculators

Share this calculator!

Income Protection Insurance Australia 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.

1 2 3 4

	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			Here you can make an allowance to cover the short-term needs of your family for groceries, petrol, clothing and other items which they consume as a matter of course for a period of a few months while they adjust to life without you.
	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 the year of your death.
	Rainy Day Fund			Here you can specify an amount to be set aside to handle unforeseen events, usually a few months` income.

	Continued Standard of Living			In this category, you will establish how much lump sum you will need to set aside in order to provide an ongoing income for your family after your death. Even with the mortgage, loans and education taken care of, your family will most likely still need a continuing income.
	Annual Income Required			This figure should represent the ongoing annual income that you feel your family would need after your death. Even if you have set aside funds to pay out the mortgage and other debts, your family will still have ongoing financial needs.
	Years Income Required			This is the number of years for which you would like to provide the income specified above. This may be the number of years between now and when your youngest child reaches adulthood – or perhaps the time that your spouse reaches retirement age.
	Assumed Interest Rate			This figure is the long‑term rate of return that you would expect your family to earn on the lump sum that you have left behind as an investment. You should be relatively conservative in estimating this interest rate because it is unlikely that your family would invest it in risky or speculative investments.

	Existing Arrangements			This category is where we take into account existing financial arrangements that would come into play on your death.
	Death Cover in Superannuation			This is the amount that your retirement savings account will pay on the event of your death. This may or may not include a combination of insurance and retirement savings.
	Other Life Insurance Cover			Here you should enter the total amount payable from any/all life insurance policies that would become payable on your death.
	Liquid Assets			This should be your estimate of the money your estate would get for things that they would sell on your death including things like shares, investments and savings accounts that they might want to cash in.
	Company and Other Benefits			This is where you can enter the annual value of any government or employer-related payments that your family would receive following your death.
	Income Producing Assets			Enter the total value of any non-liquid income producing assets (e.g. real estate) – irrespective of whether it would be sold/realised on the event of your death.

	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.

start your free life insurance quote comparison here

Share this calculator:

Life Insurance Articles

Making Sense of Income Protection Insurance: A Must-Read Comparison for Australians

When life throws unexpected challenges our way, the assurance of financial stability can be a beacon of hope amidst the uncertainty. For many Australians, income protection insurance is that beacon, safeguarding their livelihood and providing a crucial safety net when they need it most. It's more than just a policy; it's a strategic step towards longer-term peace of mind. - read more

Understanding Income Replacement Benefits: A Complete Guide for Australians

Income replacement benefits are designed to provide financial support when you're unable to earn a salary due to illness or injury. They act as a safety net, ensuring you can maintain your lifestyle and meet ongoing expenses during unexpected interruptions. - read more

Breaking Down the Barriers: Understanding Income Protection for Self-Employed Aussies

Hello to all the self-employed Aussies out there! Embarking on the journey of self-employment brings with it a unique set of challenges and freedoms. One area we often overlook is the need for a solid financial safety net, customized to our varied incomes and work lifecycles. That's where income protection insurance steps in as a critical component for ensuring financial stability. - read more

Income Protection vs. Life Insurance: Tax Differences You Should Consider

Have you ever wondered how income protection insurance can affect your taxes? It's an often-overlooked aspect of managing your finances that could make a substantial difference. Understanding your insurance options is crucial in making informed decisions that benefit your long-term financial health. - read more

Maximizing Your Income Protection Payout: Tips and Strategies

In the realm of personal finance, security is a cornerstone that cannot be overlooked, and this is where income protection insurance steps in. For Australians, the peace of mind that comes with knowing you're covered against loss of income due to illness or injury is invaluable. This form of coverage acts as a financial safety net, ensuring that life's unexpected twists do not leave you in a lurch. - read more

Avoiding Overinsurance: How to Choose Adequate Coverage Without Wasting Money

Income protection insurance is a key component of financial planning that safeguards your earning potential in the untimely event of illness or injury. In Australia, it reassures individuals that their most valuable asset, the ability to earn, is shielded against unforeseen circumstances. Adequate income protection can provide peace of mind, with the security of a regular income even when you're unable to work. - read more

Insurance News

Cyber Insurance Becomes Essential Amid Rising Digital Threats

12 Sep 2025: Paige Estritori

The recent cyberattack on Fortnum Private Wealth, accompanied by ASIC's legal action, has spotlighted the critical risks cyber threats pose to financial advice companies in Australia. With digital integration intensifying across the finance sector, the owner of Fortnum, Entireti, plans to defend the case, underscoring the necessity for ongoing vigilance in cybersecurity measures. - read more

Swiss Re Foresees Rising Premiums Amid Increasing Global Risks

10 Sep 2025: Paige Estritori

In a comprehensive analysis, Swiss Re Institute predicts that global property and casualty insurance premiums will rise in tandem with GDP over the upcoming decade. This growth is driven by amplified natural catastrophe losses, asset accumulation, and heightened economic and litigation claims inflation. The institute's report outlines the evolving insurance landscape amid increasing global risks. - read more

Insurance Council of Australia Assists NSW Flood Claimants

09 Sep 2025: Paige Estritori

In response to the devastating floods that swept across New South Wales' Mid North Coast in May, the Insurance Council of Australia (ICA) is taking proactive steps to support the affected residents. Insurers, organised by the ICA, will be meeting with flood victims in Kempsey, Taree, and Port Macquarie to provide guidance and support as they navigate their insurance claims. - read more

Ombudsman Upholds Policyholder’s Claim Despite Fraud Allegations

08 Sep 2025: Paige Estritori

A motor insurance policyholder has won a significant dispute over fraud allegations, with the industry ombudsman ruling in favour of a payout following a controversial car accident claim. The case revolved around an incident where the claimant's wife crashed at an intersection one evening, reportedly failing to yield. The lack of photographic evidence due to shock and subsequent involvement of towing services complicated matters. - read more

NM Insurance Secures Growth with Five-Year Zurich Partnership

05 Sep 2025: Paige Estritori

In a strategic move set to bolster its market position, NM Insurance has announced a five-year agreement with capacity provider Zurich, positioning itself for further growth and increased broker confidence in its success. Since its establishment two decades ago as Nautilus Marine Insurance Agency, NM Insurance has expanded its focus beyond the recreational boat market in Australia, branching into New Zealand and diversifying into the commercial marine, caravan, and motorcycle sectors. - read more

Empower Your Cyber Knowledge with CFC's Free Masterclass

03 Sep 2025: Paige Estritori

In an era where cyber threats are increasingly sophisticated, CFC Underwriting Limited has unveiled a unique opportunity for brokers to fortify their expertise through its newly launched Cyber Masterclass. This initiative offers a flexible, on-demand video learning series designed to advance brokers into proficient cyber insurance specialists at their convenience. - read more

Click for more Insurance News

Start Here !

Apply now for your free Insurance assessment and price comparisons!

All quotes are provided free and without obligation. We respect your privacy.

Knowledgebase

Insurance:
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of potential financial loss.

Income Protection Insurance Australia Life Insurance Calculator

Final Expenses

Continued Standard of Living

Existing Arrangements

Result

Share this calculator:

Start Here