Welcome to the Insurance needs calculator.  This easy to follow calculator will help you understand how much insurance cover you, or those that depend on you, may need in the event of your death or in the event of an injury or illness that renders you totally incapable of work.

 

To consider how much cover you need, you should take a look at the financial burden you're carrying now and how you can protect your own and/or your family’s wellbeing if you can no longer provide an income due to sickness or injury.

 

Please note that this calculator does not take into consideration insurance cover you already hold or the insurance cover available to you within your superannuation fund.

 

Disclaimer


This calculator has been provided by Russell Employee Benefits Pty Ltd ABN 70 099 865 013, AFSL No. 220705. It is not intended to be relied on for the purposes of making a decision in relation to a financial product and users should consider obtaining advice from a financial service licensee before making any financial decisions.


The purpose of the calculator is to address the individual needs of users and any recommendation is in no way limited to a specific benefit or product.


This calculator estimates benefit amounts based on the legislative environment current at June 2010.  This situation, along with the user’s personal circumstances, can change suddenly.  While some assumptions can be changed by the user this calculator cannot and does not predict changes to legislation and the user’s personal circumstances.


This calculator is only intended to be a general illustration of insurance needs based on the assumptions and limitations set out below:

 

Assumptions which the user can change are specified in the “Assumptions” section of the calculator.   

  • Where the user has child dependants and does not provide their expense information in detail, estimates of future expenses are adjusted using the child support tables sourced from the Australian Government Child Support Agency. 

  • The calculator also uses the 2011 income tax brackets (as per the ATO website) and the current superannuation tax rate. 

  • The calculator only includes child dependants. Users should also consider the need to support any adult dependants where necessary.

  • For users who are not working full time, the calculator will not provide coverage for the replacement value of any unpaid domestic duties.

 

 

Copyright and Trademarks

 

Copyright © 2010 Russell Investments. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments.

 

I have read the disclaimer and assumptions.