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Picture Book · Insurance

How much life cover? Mind the gap

Story pages

A father in his late thirties pushing his young daughter on a backyard swing under a big mango tree
Meet Kofi. If he died tomorrow, how much would his family need to be okay?
A tall stack of wooden building blocks on a table
Start with what they'd need: the mortgage and other debts, child care, school fees and everyday living costs.
A smaller stack of wooden blocks beside the tall one
Then add up what they'd have: super, savings, any investments that could be sold, paid leave and family support.
Two stacks of wooden blocks of different heights with a gentle gap of empty space between their tops
The gap between the two stacks is a guide to how much cover to consider.
A man handing a sealed envelope to his partner at a kitchen bench
Name your beneficiaries. Without a nomination, your estate or your super trustee decides where the money goes.
A couple sitting on a couch with a laptop
Moneysmart's Life insurance calculator can help you estimate a number to compare policies with.

The end

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General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 27 October 2026. Sources:

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