Life Insurance Needs Calculator

What this calculator assumes

• Income replacement is a simple multiple of income and years. It ignores inflation, wage growth and any return earned on the lump sum, which roughly offset each other but rarely cancel out exactly.
• Cover already held inside super is counted only if you include it in the existing cover figure. Check your super statements — many people hold default cover they have forgotten about.
• The estimate does not consider tax on benefits, who the beneficiary is, or whether cover is held personally or through super, all of which change the amount actually received.
• Existing savings are assumed to be available to your family and not already committed elsewhere.
• This is a general estimate only and is not personal insurance or financial advice.
• Rates and thresholds current as at July 2026.

This calculator provides a general estimate only. It is not personal financial, credit or taxation advice and does not take your objectives, financial situation or needs into account. Counting Beans A.F. provides financial advice under AFSL 491754 (D&M Financial Services Pty Ltd) and credit assistance under Credit Representative number 528884. Please read our Financial Services Guide and Credit Guide, and speak with us before acting on any result.