Insurance Needs
for Each Stage of Life
Young single professional
Average rent:
- Median Australian city weekly rental: $4814
Has moved out of home
Full-time employee
Rents an apartment
Likes to socialise and go out for meals
Debts/Expenses:
- Student loans
- Credit card
- Car loan
Insurance products that might suit people like this:
Couple with no kids
Likely to own an apartment
Average loan amount:
Thinking of starting a family
Likes to socialise, and go out for meals
Debts/Expenses:
- Mortgage
- Car loan
- Student loans
- Credit cards
Insurance products that might suit people like this:
Working parent with dependants
Likely to own a house
Average loan amount:
- $363,3005
- 29.75% of loans lodged in 2015 were for ‘upgraders’,5 who were buying a bigger property that suited their growing needs.
Has dependants
Tend to stay home more, may have friends over as opposed to going out
Debts/Expenses:
- Mortgage/rent
- Car loan
- Credit cards
- Increased living expenses based on number of dependants
Insurance products that might suit people like this:
Middle-aged working parent with dependants
Likely to own a house
Average loan amount:
- $363,3005
- 35.5% of loans lodged in 2015 were for ‘refinancers’5
Tend to stay home more, may have friends over as opposed to going out
Debts/Expenses:
- Mortgage/rent
- Car loan
- Credit cards
- Increased living expenses based on number of dependants
Insurance products that might suit people like this:
Older worker with no dependants
Likely to own a house
Average loan amount:
- $363,3005
- 39.5% of loans lodged in 2015 were for ‘investment properties’5
May also/or own an investment property
Children may still live at home, but are likely more self-sufficient
More social, will go out or invite people over in equal measure
Debts/Expenses
- Mortgage/rent
- Credit cards
- Decreased living expenses based on number of dependants
Insurance products that might suit people like this:
Elderly with no dependants
Have likely downsized to a smaller house or an apartment
Average loan amount:
Retired
Income received from pension
Debts/Expenses:
- Mortgage/rent
- Credit cards
Insurance products that might suit people like this:
Life Insurance Calculator
This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product.
Real Insurance provides this calculator to assist you to estimate your cover needs for Term Life Insurance. You may have other life insurance needs, such as income protection or total and permanent disability cover, which this calculator does not consider. This is a simple calculator based on market averages and does not take into account specific needs that you have which are out of the ordinary or not within the scope of the questions asked.
Using this calculator does not constitute financial product advice and should not be used in place of seeking professional advice.
Your estimated cover need is calculated on the basis of a number of assumptions. If these do not apply to you the result you obtain may not be suitable to your needs.
The results you obtain from this calculator is dependent on the accuracy of the information you have provided and is relevant to your disclosed circumstances at a point in time. You should regularly revisit your insurance needs, particularly after making a significant lifestyle change such as upgrading your home.
The amount of cover you require is just one aspect to consider when taking out life insurance. You should consider the remaining features, benefits and risks associated with commencing cover by reading the Product Disclosure Statement of any product before committing to purchase it. For more information please download the Real Family Life Cover PDS.