Comprehensive Term Insurance Needs Calculator
The all-in-one required risk cover calculator — blends your income, expenses, debts, goals and assets into one recommended term cover.
These calculators are provided for general informational and educational purposes only and do not constitute financial, tax, or legal advice. Results are estimates only. Please consult a qualified financial professional before making any financial decisions. This blends a widely-used income-multiple rule of thumb with your specific debts, goals and assets — treat it as a strong starting point, not a final number.
How This Calculator Works
This calculator starts from a simple, widely-taught rule of thumb — insure yourself for a multiple of your annual income that gets smaller as you age and (typically) pay down debt and build assets — then layers on your actual outstanding debts and upcoming goals, and nets off whatever investments and existing cover you already hold. The result is a single required-cover number that reflects your income, expenses, debts and assets together, rather than any one of them alone.
Frequently Asked Questions
Why does the income multiple fall as I get older?
Younger policyholders typically have more working years of income left to replace and less accumulated savings, so thumb-rule multiples start higher (around 20x income) and step down with age as retirement gets closer and assets typically grow.
Which calculator should I trust if the numbers from different methods disagree?
They will rarely match exactly since each method emphasises something different - use the highest of the numbers you get as a safer starting point, or better, discuss the spread with a financial advisor who can weigh your specific situation.
What should I count as a "future goal"?
Any large, foreseeable expense your family would still want funded even without your income — children's higher education or marriage are the most common examples; a rough today's-value estimate for each is fine here.
Book a Free Consultation
Not sure how much cover is right for your family? Pick a date and time that works for you, and one of our financial advisors will call you to walk through your numbers — no charge, no obligation.