Limitations

The calculator has been developed based on existing laws at 25 March 2020 but does not take into account any proposed or future changes. It is also subject to a limitation that it only takes into account the general features of the life insurance products benefit types we have considered when preparing the calculator.

Please consider the following important factors when using the calculator:

  • The calculator does not take into account any insurance you currently hold which would reduce the additional insurance you require to less than the estimates this calculator provides
  • The calculator assumes you will keep your main residence and pay off any debt in relation to the main residence at the time of death or Total and Permanent Disablement (TPD)
  • The calculator assumes you will sell all other investments you have (excluding your main residence) to meet all debt repayments
  • The calculator assumes that if your assets are greater than your liabilities at the time of death, then this will not reduce insurance estimate amount
  • The calculator does not include your lost super contributions in the death or TPD sum insured estimate
  • The calculator does not reduce the TPD sum insured estimate for any Income Protection (IP) benefit that may apply should you have an IP product
  • The calculator does not take into account your tax circumstances (e.g. your taxable deductions, HELP debt etc.) and financial position on an after-tax basis
  • The calculator does not take into account any potential social security income that may be received
  • The Death and TPD sum insured estimates are rounded to the nearest thousand, while the IP benefit is rounded to the nearest $100 per month
  • The calculator does not apply limits to the death, TPD nor IP sums insured estimates
  • In providing sum insured estimates, the calculator does not consider if cover is available to you, where limitations due to size of cover required, occupational or other fund restrictions, may apply
  • If you are not working full time, the calculator will not provide coverage for the replacement value of any unpaid domestic duties.