Is our life and critical illness cover in line with the LIA benchmark?
Family insurance gap checker
Enter one working parent's income and current cover. See how it compares with the Life Insurance Association's rule of thumb for death and critical illness cover.
New to this? Read the short guide first →
Step 2 Your result
Compared with the LIA rule of thumb, your cover is
What this estimate assumes
A benchmark comparison, not financial advice or a product recommendation. The benchmarks are the Life Insurance Association's Protection Gap Study 2022 (published September 2023, read 10 October 2026). Mortality protection need is about 9 to 10 times annual income (we use 9 times). Critical illness need is about 4 times annual income, assuming a 5-year recovery. They are population averages that savings can also meet; your right amount depends on your debts, dependants, savings and existing benefits; a licensed adviser can review it with you. Run it once for each working parent.
Step 3 What next
MediShield Life or a shield plan?Read the guideHow does our life and critical illness cover compare with the LIA benchmark? →Common questions
Where do 9 times and 4 times come from?
The Life Insurance Association's Protection Gap Study 2022 gives a rule of thumb of about 9 to 10 times annual income for death cover and about 4 times for critical illness, assuming a 5-year recovery.
Do savings count?
LIA says the need can be met by savings as well as insurance. This checker compares insurance cover only, so a parent with large savings may need less cover.