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Steve Irwin’s $200,000 Life Insurance Leaves Family in Debt Ahead of Zoo Leadership Transition

Terri, Robert and Bindi Irwin will assume formal leadership of Australia Zoo under the terms of Steve’s ironclad will that prioritized reinvesting his earnings into conservation.

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Overview

  • Steve Irwin’s life insurance policy of $200,000 fell far short of covering Australia Zoo’s expenses, with Terri Irwin saying it didn’t fund even half a week’s payroll.
  • During his career, Irwin directed the majority of his earnings into Australia Zoo operations and the Wildlife Warriors foundation to advance wildlife conservation.
  • After his death in 2006, Terri Irwin took sole management of the zoo and navigated significant debt while keeping the facility running.
  • Irwin’s “ironclad” will protected the estate from distant claims and established clear succession plans for the zoo’s governance.
  • As of August 2025, Terri alongside Robert and Bindi Irwin are preparing to formally take over Australia Zoo and continue Steve’s global conservation mission.