It can be difficult to know where to start in working out how much Life Insurance and Income Protection cover you need. We’ve made it easy with our Life Insurance Calculator.
This calculator helps you determine the amount of cover you and your family may need in 5 easy steps. The assessment includes all Life Insurance covers, including Life Cover, Income Protection Insurance, TPD Insurance and Trauma Insurance. Most importantly, it’s fast and takes only 5 to 10 minutes to complete.
Includes a FREE Personalised Report
After completing the calculator, you will receive a free tailored Life Insurance Report. This report:
Shows you your insurance gap for Life, Trauma, Total and Permanent Disability (TPD) and Income Protection.
Provides you with options of how much insurance cover you require to meet your needs.
Explains the types of covers that could be important to you.
You can save your progress at any time and return to it later. You will learn about life insurance as you progress. This small investment of time could change your life.
The methodology and assumptions used in the NobleOak Life Insurance Calculator have been reviewed and audited by RiceWarner, a leading independent provider of research and actuarial advice to the Australian Financial Services Industry.
How much cover do I need?
Here are some factors to consider when determining how much Life Insurance you might need.
When determining how much Life Insurance you might need it’s important to think about:
Your current debt such as, a mortgage, personal loans and credit cards, and the number of dependents you have.
Your current income.
Future education expenses for your children such as, school and university fees.
Ongoing household expenses, including utility bills, groceries and other insurances.
Lifestyle costs such as, sport and music lessons, birthdays and holidays.
Childcare and home assistance – if you or your spouse is a stay-at-home parent, you will need to cover the cost of employing a carer for the children, someone who can also undertake home duties.
The information provided within the calculator is general information only and relies upon the answers you provide. It does not provide a specific recommendation and should not be taken as personal advice. Because of the nature of this calculator, we will ask you to input a range of personal information. This personal information is not stored or recorded by NobleOak.
The results from this calculator is not advice but estimates of the amount of insurance a person may wish to consider based on the information input and the assumptions used in the calculator. Please refer to the Assumptions page in this Report for further details about the assumptions we have used in this calculator. Results are in today’s dollar terms.
You should not rely solely on the estimates as there may well be many other factors which may influence your decision on the amount of insurance cover you require. It is always sensible to consider your objectives, financial situation and needs.
If you have any queries or you require any further information about the calculator, its assumptions and its use please contact NobleOak on 1300 041 494 and let us know you are calling about our insurance calculator. Whilst we cannot provide you with financial advice we can help you with any queries you may have in using our insurance calculator.
NobleOak Life Limited ABN 85 087 648 708 AFS Licence AFSL 247302 Level 7, 66 Clarence Street Sydney NSW 2000