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How Much Do I Need?

Determining how much cover you need to maintain your lifestyle if you are unable to work takes a little calculation. However, an approximate calculation can be done if you consider a few key principles:

Life Cover

The main things to cover are your Debts and your Income.
Ask yourself these questions:

What is the current amount of your total Debts?

How much income per year would you and your family need?

As a guide, you need enough capital to pay off debt and to invest so as to produce the income you or your family needs. In simple terms the following calculation can determine the capital needed:

Required annual income X twenty.
For example, if your family needed $1000 per week, then you would need $52,000 each year. To get this you would need to invest $1,040,000.

$52,000 X 20 = $1,040,000

Add to this the amount of debt you have and you can see how much you need.

Income Protection

Insurance companies generally allow you to insure up to 75% of your monthly income. You may not need the full amount of 75% if your spending requirements are less. However you have to take into account your tax liabilities as Income protection benefits are received as taxable income.

Would you like to know more?

For a no-obligation discussion with our senior adviser, simply provide the following details and we will contact you to arrange an appointment when it suits you.





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I am interested in)

Life & Total Permanent Disablement Cover
Income Protection
Critical Illness/Trauma Cover
Child Cover

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