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Life Cover Calculator

Complete the form to find out how much life cover you need:

Assumptions: ?
To make more accurate calculations you have to make assumptions of the long term inflation- and interest rate you will earn on savings. The long term rates forecast can change over time and therefore you must come back from time to time to see if your plan is still on track.
Currency to use:  
Assumption of average inflation over the term:   %
Assumption of interest earned on savings:   %

What provisions do you want to make for an untimely death?

Funeral expenses ?
Here you can make an assumption of the costs for your funeral, gravestone and sickbed costs. The average cost of a funeral is R 20 000. As nobody knows how they are going to die it could be a good idea to provide some money for a sickbed. (Depends on what your medical scheme will pay)
How much income do you want to provide for dependants pm:
For how long do you want to provide last mentioned income?   Years
Do you want to make provision for education?  
    Child 1   Child 2   Child 3
Years before studies begin:   Years   Years   Years
Duration of course:   Years   Years   Years
Current costs pa:

Are there any debts you must settle at death?

Description of debt   Owing
Other needs (lump sums) you want address:
Description of need   Value
What provisions have your made for an untimely death are:
Current lump sum provision:    
Employer funds
Life cover on policies ?
This will be the value of all policies that is destined for your loved ones you want to provide for. It could be policies where they are the beneficiaries or it could be policies that is paid into your estate where they are ultimately the heirs of the estate.
Other lump sum provisions ?
This could be the value of investments, cash and assets that are going to be sold at your death and of which your loved ones you want to provide for are the beneficiaries of the benefits.
Current Income provision:    
Income per month already in place at death ?
If you are a member of a pension fund that will pay a spouse or child pension the monthly value of the income must be filled in here or any other provisions for monthly income after your death where your loved ones are the beneficiaries, it could be filled in here.

The answer to how much life cover you need is:

The amount of cash your estate will need at death: ?
Your needs at death:
Funeral costs:
Income Needs:
Liabilities (Debt):
Other needs:
The cash that is available at your death:
Life cover need calculator. Life cover need calculator.

Life Cover Calculator

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Calculate your need for life cover

Taking into consideration the assumed long term inflation rate and assumed interest rate on savings, before and after your death, the life cover calculator calculates what lump sum your estate will need at your untimely death to provide for: funeral costs, provide an income to your loved ones for a chosen period, pay education costs for loved ones, payoff all your debts and whatever other need you wish to address. If you choose to provide for an income for your loved ones, the calculator takes the inflation rate you choose into conideration to ensure the chosen income amount increases yearly with inflation. Complete the form to find out how much life cover you need:  
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Life Insurance

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