FreeByte

Life cover calculator

Cover that protects your household.

Built and reviewed by Dovanic, Founder and editor, FreeByteLast reviewed: 2026-08-18
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Cover needed

$1,320,000

Income replacement

$1,170,000

With these inputs, cover needed comes to $1,320,000 over 15 years. Income replacement works out to $1,170,000.

Debts
$240,000
Offset by assets
$90,000

Over time · by years of replacement

What moves the number · Cover needed

Input−10%Now+10%
Yearly income$1,203,000$1,320,000$1,437,000
Years of replacement$1,203,000$1,320,000$1,437,000
Debts to clear$1,296,000$1,320,000$1,344,000
Existing savings & cover$1,329,000$1,320,000$1,311,000

Solve for an input

Whatmakesequal

Compare scenarios

Save this set of inputs, change something, then save again to compare the outcomes side by side.

Cover that protects your household.

A worked example

Starting figures

Yearly income
$78,000
Years of replacement
15
Debts to clear
$240,000
Existing savings & cover
$90,000

What it returns

Cover needed
$1,320,000
Income replacement
$1,170,000
Debts
$240,000
Offset by assets
$90,000

How to read the results

With the defaults above, cover needed works out at $1,320,000.

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