Life Insurance Calculator - Assumptions

• Your estimated cover is calculated on a scenario of death occurring immediately with the current information you have disclosed.
• All home loans and personal debt will be covered in full so that you don't need to cover these debts from your personal estate.
• An immediate expense is assumed for funeral and other immediate costs at a default at $8,000 or from your adjustment. This amount can be adjusted.
• An annual indexation is applied to all ongoing expenses to ensure your family will be able to maintain their current lifestyle. This is defaulted to 2.1%. This amount can be adjusted.
• Other income (if any) derived from assets or earned by your partner/relatives are not used to cover expenses.
• No major assets will need to be sold to cover expenses.
• Any existing cash savings from a savings or superannuation account are not used to cover expenses.
• Your living and ongoing expenses will be covered for a number of years after the event of death. The number of years is calculated by the number of years until your youngest child reaches 18, subject to a minimum of 5 years, unless otherwise adjusted. This amount can be adjusted.
• If no children are disclosed, 5 years are covered from event of death.
• If you have childcare or education costs, you should enter those in your monthly living expenses.
• It is assumed that the claim amount after being paid out will not accrue any investment returns.