Life cover planning session
A free 60-minute online session covering how to choose the right type and amount of life cover for your household — term, whole-of-life, decreasing, and when each is appropriate.
What this session covers
This 60-minute session provides a practical framework for deciding how much life cover you need and which type of policy to choose. Hosted by InsuranceTheGuide, it is independent of any insurer or product.
- How term, decreasing term, and whole-of-life cover differ — and when to use each
- Calculating a personalised cover amount based on income, mortgage, and dependants
- The case for writing your policy in trust — and how to do it
- How life cover interacts with income protection and critical illness cover
- Common mistakes: under-insuring, not reviewing after life events, forgetting employer death-in-service
Who should attend
Taking out a mortgage or starting a family and buying life cover for the first time.
Have existing cover but have not reviewed it since a major life change — marriage, divorce, new child, salary increase.
No employer death-in-service benefit. Need to plan personal cover from scratch. Also see our guide to insurance for the self-employed.
Thinking ahead to retirement — when to reduce or remove term cover, and whether a whole-of-life component is worth retaining.
Format and preparation
The session runs 45 minutes of structured content followed by 15 minutes of live Q&A. No registration software or account is required — join via the link sent on confirmation.
Useful preparation: note your current outstanding mortgage balance, approximate gross annual salary, number of dependants, and whether your employer provides death-in-service benefit. You do not need any documents in front of you — having approximate figures in mind is sufficient.
If you prefer to read ahead, our guide to term vs whole-of-life insurance and the article on putting life insurance in trust cover the two most common questions raised in this session.
Life cover FAQ
Frequently asked questions
- Term life insurance covers you for a fixed period — typically 10 to 40 years — and pays out only if you die during the term. Whole-of-life insurance has no fixed end date; it pays out whenever you die, provided premiums have been maintained. Term cover is significantly cheaper and is suitable for covering a specific financial obligation such as a mortgage or dependant care period. See our full guide to term vs whole-of-life insurance for a detailed comparison.
- A common starting point is 10× your gross annual income, but the right figure depends on your specific circumstances: outstanding mortgage balance, number and ages of dependants, existing savings and assets, and whether your partner earns independently. For most people with a repayment mortgage, a decreasing term policy that mirrors the outstanding balance is the most cost-efficient approach. This session walks through a personal calculation framework.
- Writing a life policy in trust means the payout bypasses your estate and is paid directly to your chosen beneficiaries, usually faster and without inheritance tax implications. See our article on putting life insurance in trust for a step-by-step explanation of when and how to do this. It is one of the most valuable — and most overlooked — administrative steps for policyholders.
- Yes — this session is designed for people who are buying life cover for the first time, reviewing existing cover after a major life event (marriage, mortgage, new child), or simply unsure whether their current policy is adequate. No prior knowledge is assumed. The format is a structured 45-minute presentation followed by a 15-minute live Q&A.