Insurance Cover Disclaimer

Insurance Cover disclaimer

The amount of cover is estimated based on the information that has been entered, the system takes into account your income, cost of living, superfund balance, personal investments, redeemable assets (assets that can be sold in a reasonable time frame), property assets and liabilities. It calculates two options to either receive a lump sum clear your household debt or provide an income with the balance and the second option to create an income based on 3% effective rate of return of the sum insured.

Insurance needs calculator: Helps you work out how much Death, TPD and Income Protection cover you could need. The methodology to calculate the Preferred Level of Cover is based on a multiple of income with the Preferred Level of Cover (PLC) being the level of cover that provides beyond working life expectations. Yet may not be a true representation of your actual position. Preferred Level of Cover (PLC) is based on a multiple of income based on accepted average underwriting guidelines example a life insured under 41 will have a factor of 20 applied to determine the PLC.

Point of Claim Insurance calculator: If you are looking at your insurance arrangements, this calculator will help you to calculate the impact of the insurance options you hold if you were to make a claim and the period you may last until welfare is required. Note, due to changing circumstances this should only be viewed as a guide and may not be a true representation of your actual position.