nib Value Life

Cover Calculator

The most important thing to consider when applying for life insurance is how much cover do you really need.

Life insurance benefits provide financial security for your family. They can be used for anything you like, but they are commonly used to clear outstanding debts and/or to cover living expenses.

This Cover Calculator will help you work out the amount of cover that's right for you. Simply enter your personal details in the right hand column.

AMOUNT TO CLEAR OUTSTANDING DEBTS
Mortgage (lump sum debt)	$
Other loans (e.g. car loan, personal loan, credit card lump sum debt)	$
Total required to clear outstanding debts	$

AMOUNT TO COVER MONTHLY LIVING COSTS
Rent (total monthly amount)	$
Transport expenses (including car repairs, fuel, train/bus tickets)	$
Food	$
Utilities (including rates, phone bills, electricity, contents insurance)	$
Education expenses	$
Entertainment	$
Other (including clothes, shoes, personal grooming)	$
Amount required to cover monthly costs	$
Amount required to cover monthly costs for a year	$
Years you'd like to cover these expenses
Total required to cover living costs	$


EXISTING INSURANCE COVER
Life insurance cover through superannuation	$
Life insurance cover from other policies or assets you could sell	$
Total existing insurance cover	$

TOTAL LIFE INSURANCE COVER REQUIRED	$

Please Note:
The calculated sum insured is a guide only and is based on death occurring today. It's not advice, and is not based on a detailed analysis of your needs. There may be other factors to be considered which will have a determining effect on the actual sum insured finally selected by you. It is strongly recommended that you seek your own independent advice to determine a benefit amount appropriate to your needs.
The maximum sum insured you can apply for under this plan is $800,000.
Other conditions apply and are detailed in the nib Value Life Insurance PDS.

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