How much life cover do you actually need?
A simple way to estimate the right amount, so you’re not over-paying or leaving your family short.
Qina Advisory team
August 2026
Life cover is meant to replace what your family would lose if you were no longer there. The right amount depends on your debts, your family’s living costs and what you already have in place.
Start with your debts
Add up your bond, vehicle finance, credit cards and personal loans. Most families want these settled so that the people they leave behind aren’t carrying repayments.
Add living costs
Estimate your household’s monthly expenses and multiply by the number of years your dependants would need support, often until the youngest child finishes studying.
Include education and final costs
School and university fees rise faster than general inflation. Add a buffer for funeral costs and estate expenses too.
Subtract what you already have
Deduct existing policies, group cover through your employer, and savings your family could access. What’s left is your cover gap. Try our life cover calculator for a quick estimate.
Want advice for your situation? A Qina adviser can walk you through your options, free of charge.
This article is general information and not financial advice. Product features, limits and legislation may change.