How much insurance do I need?

Obviously, everyone’s needs are different, but here’s a few tips to help you work out the level of cover you might need.

What’s your situation?

Are you married or living in a relationship? Do you have children that need your support, or others who depend on you financially? Does your partner have insurance?

How old are you?

Depending on your stage of life, you might need the highest level of cover in your 'middle years' - when you’ve got kids and a mortgage.  As retirement gets closer and your super balance and other assets increase, you might even be able to reduce your level of cover.

How much debt do you have?

How much money do you owe?  Do you have a mortgage?  If something happened to you would your family be able to make the repayments? How much would it cost to pay out your debts?