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How much cover does your family actually need?

Estimate the life cover needed to clear debts, fund the gap years and keep your family's plans intact. Most Australians are either under-insured or paying for cover they no longer need — both are fixable.

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07 — Insurance

Life Cover Estimate

— Estimated Cover Required
—
— Income Replacement
—
— Debt + Education
—
Less existing cover already in place.

Simplified needs-based estimate. Actual insurance requirements depend on your full financial position, existing group cover, family situation, and health. Personal advice requires a Statement of Advice. AFSL 562647.

This calculator provides estimates only, based on simplified assumptions and the figures you enter. It does not take into account your personal objectives, financial situation or needs, and is not financial advice. Results are illustrative and actual outcomes will differ. Consider seeking personal advice before acting. Wealth Designers Advisory Pty Ltd (ABN 26 650 483 300, AFSL 562647).

Your Adviser

Self-licensed by design. Fee-for-service by choice.

Troy Gudgeon established Wealth Designers Advisory under its own Australian Financial Services Licence specifically to remove the conflicts that come with bank or institutionally-owned advisory groups. No dealer group, no product quotas — the only agenda at the table is yours.

  • 20+ years of financial planning experience across every market cycle
  • Master of Financial Planning — Kaplan Professional
  • SMSF Specialist Advisor™ (SSA™) designated
  • Member, Financial Advice Association of Australia (FAAA)
  • Self-licensed AFSL 562647 — no bank ownership, no third-party ties
  • Offices in Barangaroo (Sydney) and Brisbane CBD — advises nationally via Zoom
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Troy Gudgeon, Founding Director and Principal Adviser
Troy Gudgeon
Founding Director & Principal Adviser
MFinPlan · SSA™ · FAAA Member
Wealth Designers Advisory Pty Ltd
ABN 26 650 483 300 · AFSL 562647
Accredited SMSF Association Specialist
Common Questions

Answers about the insurance needs calculator.

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  • What does the calculator include?
    It's a needs-based estimate: debts to clear, income to replace over your chosen period, and future costs such as education, less existing cover and liquid assets. It doesn't price premiums or compare policies.
  • Should I hold insurance inside or outside super?
    Both have real advantages and real trade-offs — premiums, tax treatment, definitions and claim outcomes all differ. We've written a full article on this in Insights, and the right structure is a personal advice question.
  • Do I still need life insurance near retirement?
    Often less than before — debts shrink and assets grow. An advice review frequently reduces cover (and premiums) while keeping what still matters, such as TPD or trauma protection.
  • Does WDA earn commissions on insurance?
    We are a fee-for-service practice. How we're remunerated is set out in our Financial Services Guide and agreed with you in writing before any work begins.
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Wealth Designers Advisory Pty Ltd · AFSL 562647 · Advice prepared under the Corporations Act 2001