This calculator is provided by TAL Life Limited (ABN 70 050 109 450 AFSL number 237848, ‘TAL’) for and on behalf of LGIAsuper Trustee (ABN 94 085 088 484, AFSL number 230511, ‘LGIAsuper’).

The purpose of this calculator is to estimate the amount of life insurance benefits and the cost of those benefits to help you in deciding the level of protection which is suitable for your circumstances.

There are many types of life insurance benefits available in the market and no product is identical to another. This calculator only considers three life insurance benefit types, being Death, Total and Permanent Disablement (TPD) and Income Protection (IP).

The calculator is not intended to be relied on for the purposes of making a decision in relation to any specific financial product. We therefore recommend that you consider obtaining financial advice from an Australian Financial Services Licensee and consider the relevant Product Disclosure Statement before making any decisions about acquiring or continuing to hold the product. TAL and LGIAsuper do not accept any liability for any loss or damage arising from any person relying on any information provided by the calculator.

The way the calculator works is by estimating amounts based on a combination of factors entered by you and a number of assumptions. The factors to be entered by your include information about your assets, liabilities, income and expenses. The assumptions used by the calculator include items you cannot change (these are matters fixed by legislation including the superannuation guarantee levy) and items which you can vary (such as the rate of inflation you think might be relevant to you). The assumptions you can and cannot change are identified in the calculator.

The factors you can enter and the assumptions selected have both been chosen by us based on a reasonable appraisal of circumstances commonly taken into account when people consider the protection life insurance can provide. Where you do not vary the assumptions you are able to change, the calculator will default to amounts we have selected based on reputable surveys and studies (called “default assumptions”). The default assumptions are based on a combination of government legislation, regulatory guidance and reputable surveys and studies.

This calculator is only intended to be a general illustration of life insurance needs based on the assumptions and limitations set out in the calculator. It is also limited by the accuracy of the data you input into the calculator.

The calculator bases the estimates on the current legislative environment. This legislative environment, along with your personal circumstances, can change suddenly and the calculator is unable to predict those changes. It is also subject to a limitation that its estimates only take into account the general features of the life insurance products benefit types we have considered when preparing the calculator.

We also think you should consider these important factors when using the calculator:

  • Where you have child dependants and do not provide their expense information in detail, the calculator estimates future expenses using the child support tables sourced from the Australian Government Child Support Agency.
  • The calculator also uses the personal income tax brackets and the superannuation tax rate current as at the date above.
  • The calculator only includes child dependants. You should also consider the need to support any adult dependants where necessary.
  • If you are not working full time, the calculator will not provide coverage for the replacement value of any unpaid domestic duties.

Copyright and Trade Marks

Copyright reserved by TAL Life Limited (ABN 70 050 109 450 AFSL number 237848) or one of its related bodies corporate. "Investing in Life" is a registered trademark of TAL Services Limited (ABN 60 076 105 130) one of TAL Life Limited’s related bodies corporate.

Let's get started on your insurance cover and costs

Personal Details

To start we need to know a few things about you so we can estimate the cost of maintaining your (and your family's) lifestyle if you die or suffer a disability and can no longer work.


You need to be at least 15.
Your age must be between 15 and 69 years old.
Please enter your current age.
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Max value is 99,999,999

Entry must be {{$ctrl.maximumDependentAge}} and under

Financial details

If you were to suffer a disability or die, you (or your family) may still have expenses and debts that will need to be paid. You can choose to enter a total figure or work through each question. The more detailed information you provide, the more reliable our guide for your insurance needs will be.

Some assumptions have been made to determine how much insurance you might need. Please ensure you have reviewed these assumptions and alter them specifically for your own circumstances, click here.


Income & expenses
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Your salary must be greater than zero.
Your income exceeded the maximum value of $999,999,999.99 annually.
You must enter a value for your income.
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Your partner’s income exceeded the maximum value of $999,999,999.99 annually.
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Your other income exceeded the maximum value of $999,999,999.99 annually.
$
$
The maximum total expenses allowed is $999,999,999.99
Total income must not be less than your expenses.
Assets & debts
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The maximum total assets allowed is $9,999,999,999.99
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The maximum total debts allowed is $9,999,999,999.99

Calculated insurance cover

The summary below is an insurance cover estimate that has been calculated using the information you have provided. It should only be used as a guide and not advice.

To view example calculations, click here


If you suffer from a disability, TPD insurance cover may provide you with a lump sum payout, however, you may incur extra expenses greater than the TPD benefit amount (for example, to allow wheel chair access). You can increase the TPD insurance cover estimate to include these extra disability expenses, by changing the below No button to Yes.

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Explanation of the extra disability calculation

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Cost of your insurance

The kind of work you do can impact the cost and type of insurance cover. Please confirm the amount of cover you require below. The estimated premium is calculated based on our Insurer's rates. When applying for insurance our Insurer makes a determination based on the information you provide us. The actual premium applicable may be higher or lower depending on your individual circumstances. This is not a quote and should be used as a guide only.

Some assumptions have been made to determine how much insurance you might need. Please ensure you have reviewed these assumptions and alter them specifically for your own circumstances, click here.

Insurance information


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Death only cover

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Please select an amount of cover that is $0 or more
Please select an amount of cover that is $5,000,000 or less
Please select an amount of cover between $0 and $5,000,000
Total Monthly Premium
No Premium {{$ctrl.totalDeathCoverWeeklyPremium | currency}}

Total & Permanent Disablement cover

$
Please select an amount of cover that is $0 or more
Please select an amount of cover that is $3,000,000 or less
Please select an amount of cover between {{0 | currency:'$':'0'}} and {{$ctrl.isDeathCoverAmountExceedingMaxTpdCoverAmount() ? $ctrl.totalDeathCoverAmount : $ctrl.maxTpdCoverAmount | currency:'$':'0'}}
{{$ctrl.tpdGreaterThanDeathError}}
Total Monthly Premium
No Premium {{$ctrl.totalTpdCoverWeeklyPremium | currency}}

Income Protection cover

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Please select an amount of cover that is $0 or more
Please select an amount of cover that is $50,000 or less
Please select an amount of cover between $0 and $30,000
{{$ctrl.incomeProtectionWarningThresholdErrorMessage}}
Total Monthly Premium
No Premium {{$ctrl.incomeProtectionWeeklyPremium | currency}}

Total cost summary

Cover Cover amount Total Monthly Premium
Basic (automatic) death cover* Fixed (automatic) death cover* {{$ctrl.roundNumberToNearest($ctrl.basicDeathCoverAmount,1000) | currency:'$':0}} {{$ctrl.basicDeathCoverAmount | currency:'$':0}} {{$ctrl.basicDeathCoverAmount | currency:'$':0}}

Total Monthly Premium

{{$ctrl.basicDeathCoverWeeklyPremium | currency}}
Basic (automatic) TPD cover* Fixed (automatic) TPD cover* {{$ctrl.roundNumberToNearest($ctrl.basicTpdCoverAmount,1000) | currency:'$':0}} {{$ctrl.basicTpdCoverAmount | currency:'$':0}} {{$ctrl.basicTpdCoverAmount | currency:'$':0}}

Total Monthly Premium

{{$ctrl.basicTpdCoverWeeklyPremium | currency}}
Death only cover {{$ctrl.roundNumberToNearest($ctrl.voluntaryDeathCoverAmount, 1000) | currency:'$':0}}

Total Monthly Premium

{{$ctrl.voluntaryDeathCoverWeeklyPremium | currency}}
Death and Total & Permanent Disablement cover {{$ctrl.roundNumberToNearest($ctrl.voluntaryTpdCoverAmount,1000) | currency:'$':0}}

Total Monthly Premium

{{$ctrl.voluntaryTpdCoverWeeklyPremium | currency}}
Monthly income protection cover {{$ctrl.incomeProtectionCoverMonthly | currency:'$':0}}

Total Monthly Premium

{{$ctrl.incomeProtectionWeeklyPremium | currency}}

This print out is not a quote

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This print out is not a quote

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{{$ctrl.waitingPeriodDisclaimer}}

Total Monthly Premium
{{$ctrl.calculateTotalWeeklyPremium() | currency}}
{{$ctrl.monthlyPremiumFromAnnualMessage}}

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1800 444 396