To help you with this decision we have produced a simple self-assessment worksheet below. It should only take you 5 minutes to complete. Just add your own details.

Loans and Debts
	Your estimate
Mortgage
Other loans (e.g. personal loans, credit cards):
Lump sum to clear loans and debts
Monthly Living Expenses
Rent (if applicable)
Vehicle and transport (e.g. fuel, bus/train fares)
Entertainment
Your home (e.g. rates, electricity, insurance, repairs water, gas)
Food
Education/child care
Other (e.g. clothing, shoes, grooming)
Monthly total
Multiple by 12 for annual living expenses
Years you wish to cover these expenses
Lump Sum to cover living expenses
Insurance Cover Gap
Lump sum required to clear debts and cover living expenses
Life cover insurance you have through superannuation
Life insurance from other policies and/or assets you can sell (i.e. shares)
Potential Life Insurance Gap

This calculator is not intended to be relied on for the purpose of making a decision in relation to life insurance and you should consider obtaining advice from a financial adviser before making any financial decisions.

How Much Total Disability Cover?

When deciding on an appropriate disability sum insured people often consider the needs addressed for their life insurance as well as financial requirements of being totally disabled. For instance home modification, wheel chair access etc. The level of cover may be able to be reduced however if you have income protection insurance secured until age 65.