Boring but certain - death. How are you insured?
I recently decided to insure myself for death, TPD and income protection given I'm a dad and all now.
Mid-30s, checked my super fund for recommended levels of insurance after plugging in all the numbers and it generated an age-based cover of $400k or something.
I decided to run some quick figures myself based on what I think my family needs if I was to disappear or not work anymore, and landed on $2m death and TPD, and about $7200 per month for income protection. There isn't any really formula to it, just what I feel they'd need to get by.
How do you guys calculate your own level of insurance? Do you mind sharing your coverage (type and amount)?