Term life insurance calculations & estimations

Simply enter the Estimated Value for each applicable item below, then click the 'Calculate' button to obtain an estimate of your additional life insurance requirements.

This calculator 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.

DISCLAIMER: These calculations are only estimates and can only be used to evaluate the possible results of aquiring certaconsolidating certain debts into one loan loan. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when compared to your current situation. Please consult an Accredited Mortgage Consultant for an accurate calculation and quote.

Term Life Insurance Calculator

Part 1 - Existing Expenses

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.

Please select your estimated funeral expenses:

$ .00

Mortgage

Most monthly mortgage statements provide a "pay-off" amount, 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.

Please enter your mortgage pay-off amount:

$ .00

Loans and Debts

This number should include debts (outside of the mortgage) - credit cards, automobiles, personal loans etc.

Please enter your total estimated debt:

$ .00

Day to Day Expenses

An allowance for groceries, petrol, clothing and other items which your family consumes as a matter of course for a period of time while they adjust to life without you.

Enter your estimated day to day expenses for several months:

$ .00

Children's Education

The total amount that you anticipate spending for educating all children over their lifetime.

Enter total estimated education expenses:

$ .00

Income Taxes

Income taxes are collected for income earned the year of your death.

Enter total estimated taxation expenses:

$ .00

Rainy Day Fund

An amount to be set aside to handle unforeseen events.

Enter your "rainy day" amount according to your current income:

$ .00

Part 2 - Continued Below
Standard of Living Guide

Annual Income

After your death, how much annual income do you wish to provide for your family on an ongoing basis?

Enter the annual income that you would like to leave your family:

$ .00

Numbers of years you would like this income to be provided. (e.g. until your spouse retires or your children are independent.)

Enter the number of years that income will be required for your family:

years

Interest Rate

Enter the interest rate that would you reasonably expect to earn on your investments:

Part 3 - What You Currently Have In Place

Existing Insurance

Life insurance (including any cover under your superannuation). Note, if you wish to calculate your TOTAL life insurance needs, leave this field blank. If you want to work out whether you need additional cover, enter the amount of insurance that you already have.

Enter the total amount of existing insurance on your life:

$ .00

Liquid Assets

Cash, investments

Enter the total value of assets that could be realised/sold on your death:

$ .00

Company and Government Benefits

Pensions and other sponsored benefits

Enter the annual value of any pension or government benefits that your family would be entitled to on the event of your death:

$ .00

Other

Income producing assets.

Enter the total value of any income producing assets that would not be sold/realised on the event of your death:

$ .00

Your estimated additional life insurance amount required: $