Life Insurance

How much cover do you need?

How much life insurance cover you need depends on you and your family's situation, which will continue to change over time. Use the Kiwibank Life Cover Calculator below to work out a realistic level of protection.

1Current assets

  1. Enter the value of any assets that can be accessed instantly, like cash in a bank account or term deposits.
  2. Enter the current size of your home loan (if any) on your family home. Do not include any investment properties.
  3. If you have any investment properties that will be sold in the event of your death (not including the family home)
  4. Enter the market value
  5. Enter the outstanding mortgages
  6. Enter the value of any superannuation savings that can be used in the event of your death. If you want to keep these superannuation savings to provide for your surviving partner's superannuation, leave this blank.
  7. Enter the value of any other investments you may have like shares or unit trusts.

2Bequests

  1. What are your estimated funeral costs? $5,000 is average, but consider any overseas relatives that need to be flown in.
  2. Enter the value of any debts that will need to be covered immediately if you die e.g. overdrafts, credit cards, hire purchases, personal loans. Do not include any home loans.
  3. If you want to provide towards your family’s living expenses for a period of time (eg. until children turn 18)
  4. What is the monthly amount
  5. For how many years
  6. Do you want to make provision for any children’s education costs?
  7. What is the value of any other bequests you wish to provide for?

3Existing cover

  1. If you have existing life insurance cover that you intend to leave in place, enter the cover level here. *
  2. * You should never cancel any existing life insurance cover until you're certain you do not need it any more, or until any replacement cover you've applied for has been issued.
rounded corner Calculate your cover needs

Arranging insurance is so easy! You can either: