How much cover is required?

When deciding how much cover you may need it is important to consider every aspect of life. The amount of cover required depends on your individual needs and circumstances.

These may include but are not necessarily limited to the following factors:

  • Whether you are single or married;
  • Whether you have dependants such as children;
  • Financial obligations such as a mortgage; school fees or personal loans;
  • Current and accessible income, assets and any savings that you have; and
  • Your lifestyle and how much money would be needed to maintain this lifestyle (i.e. ongoing living expenses).


It is important to think about these and any other relevant factors when choosing your cover, to make sure it suits your needs.


The main questions you need to answer are:

  • How much money will my family need to pay off debts, such as mortgage, credit cards, or personal loans?
  • How much money will my family need after my death to meet immediate expenses, like funeral expenses and unpaid medical bills?
  • How much money would my family need if I were to die or become permanently unable to work to maintain our current standard of living over the long run?
  • If I suffered from cancer, a heart attack or other critical illness, what kind of lifestyle changes would I want to make?


Check your eligibility before you apply

It is important that you check the following before you apply for cover:


How much cover can you apply for?

The maximum Cover Amounts you can apply for are based on your current age. The Cover Amount of any Critical Illness or Permanently Unable to Work cover cannot exceed the Life Cover Amount. The minimum Cover Amount is $50,000 for Critical Illness cover and $100,000 for Life cover and Permanently Unable to Work cover.


Your AgeMaximum Life coverMaximum Critical Illness coverMaximum Permanently Unable to Work cover
16 – 45$1,500,000$500,000$1,500,000
46 – 55$1,000,000$500,000$1,000,000
56 – 65$500,000N/AN/A


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