Assumptions

Important information for you

The calculator uses the following assumptions to calculate your required cover. You can change the values of these important assumptions:

Calculation Methodology

The following assumptions have been made when making these calculations. You can change the values indicated with an asterisk {*} (the default values are shown below).

Death & TPD Cover

The "calculated" levels of Death and TPD covers provide for:

• Debt repayment;
• Death or TPD expenses;
• Income for children (where applicable); and
• Income for spouse/partner (where applicable)

The total calculated cover is the sum of the above components. As these types of cover provide a lump sum payment, a lump sum equal to the present value of future income for spouse and children is included in the "calculated" cover where applicable, as described below.

The calculated levels of these components are determined for you as set out below.

Debt repayment

The levels of debt repayment are initially set to the amount by which your current debts exceed your assets.

Death or TPD expenses

The levels of cover for Death or TPD expenses are initially set to {*} for Death and {*} for TPD.

Income for spouse/future income on TPD

Cover for future income for your spouse or partner (or for you on TPD if you have selected not to provide cover for a spouse) is calculated as the amount needed to fund an annual income equal to the amount selected (and increasing by {*} per year), up to your th{*} birthday.

The initial level of income is calculated as {*} of your income (as entered by you on the Personal Details page).

It is assumed that the insurance amount will be invested and will earn an investment return of {*} p.a. after tax in future years. Future income is assumed to grow at p.a.{*}

Income for children expenses

Cover for future expenses for each dependent child (aged less than {*}) is defaulted to be the amount needed to fund the ongoing expenses up until the child turns 21{*}.

The initial level of expenses are calculated as {*} of your income (as entered by you on the Personal Details page) for each child) which increases by {*} per year up to age 21{*}. No additional allowance is made for more than 5 children.

The age of each child is assumed to be {*} years older than the next youngest, but capped at age 21.

It is assumed that the insurance amount will be invested and will earn an investment return of {*} p.a. after tax in future years. Future income is assumed to grow at {*} p.a.

Minimum level of cover

Maximum level of cover

This tool is intended to provide broad guidance on the level of insurance cover required to meet debt obligations and replace a portion of income in the event of Death and TPD or temporary disablement. The calculated cover is not a recommendation and is not intended to be an exact figure. It is an estimate which does not take your needs into account and does not constitute financial advice.

Death and TPD cover has been rounded to increments of $10,000.

Separate advice should be sought regarding the need for any other insurance such as Private Health Insurance.

All figures are gross of tax. No allowance is made for your particular tax circumstances or for the taxation of insurance benefits, either inside or outside superannuation. Generally, Death and TPD insurance benefits will be taxed at a lower rate than the income they are replacing. Please seek separate tax advice in relation to insurance benefits.

No allowance has been made for any social security benefits to which you may be or become entitled.

No assessment is carried out as to the availability of cover. Cover may not be available to some customers either for health reasons or due to their occupation.

You should consider obtaining advice from a licensed financial adviser before making any decision. A financial adviser may be able to help you understand the exact level and type of cover you need, including a need for any other insurance and taxation advice. To the maximum extent permitted by law, Rice Warner, Hannover Life Re of Australasia Ltd and Togethr Trustees Pty Ltd take no responsibility for reliance by any person on the information in or relating to this calculator.

Your Needs

You should reassess your insurance needs regularly as your circumstances may change. Also, while the assumptions underlying this calculator are considered reasonable at the present time, these assumptions may be reviewed in future.