Calculating your required level of Death cover | Life Insurance

Death cover is there to provide for your loved ones financially, if you were to pass away. This video covers off the steps you need to take when calculating what level of Death cover you need.
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[@PassiveIncomeTom]

Great information! 👍 I agree no one lives forever. It is guaranteed a person will die. People need to consider having insurance to at least cover their funeral and lose of income if they have a family at a minimum.

[@GuidedInvestor]

Thanks Tom!

[@DamonLeeK]

Great work mate, very helpful!

[@GuidedInvestor]

Cheers Damo!

[@WhatIfAdvice]

Another good video! - Cheers

[@GuidedInvestor]

Thank you!

[@GuidedInvestor]

Personally, I need about $500k of Death cover. What does your calculation come in at?

[@DaViperBro]

#BrodieLongsword reporting in. Solid advice.

[@GuidedInvestor]

🤣 Brodie long sword, you stole that name! Still waiting on my dinner invite to your new house....

[@lukep5130]

I think 200k. How do you calculate how much TPD you would need?

[@GuidedInvestor]

Good question! It is fairly similar to death cover but you also want to consider medical bills and potential home modification costs. Also, if you have a good income protection policy then you generally don't need to factor in income replacement in your TPD 👍