Important things to know
1. The purpose of this calculator is to estimate how long you (and your dependents) can continue with your current lifestyle without your income in the event that you stop working.
2. This calculator is intended to provide general information only. It is provided by ClearView Life Assurance Limited ABN 12 000 021 581 AFSL No. 227682 (‘ClearView’) without taking into account your particular objectives, financial situation and needs.
This calculator is a financial model and cannot accurately predict how much insurance you might need. This will depend on:
- all of your personal circumstances (including your particular objectives, financial situation and needs); and
- unpredictable external factors.
This calculator generates factual information based on a limited range of issues and uses a set of assumptions to give you an indication of how your choices may affect the outcome. These assumptions and limitations are stated below.
3. While this calculator can be a useful tool, the information produced does not constitute a recommendation or statement of opinion about insurance and it should not be relied on for the purpose of making a decision in relation to a financial product. This calculator does not consider all of your personal circumstances and you should consider obtaining advice from a financial planner before making any financial decisions.
4. No assurance is given that this calculator is free of errors or suitable for any user’s intended purposes.
Assumptions and limitations
The assumptions used to calculate the result and the limitations of this calculator are set out below. There is no guarantee that the assumptions are appropriate for your circumstances or accurately predict what will occur. You should also consider the limitations carefully as these will impact the result.
1. Sick leave is at full rate of pay.
2. No major assets are sold off to cover expenses
3. Expenses are not reduced (or increased) during a period of total disability.
4. Transaction costs, brokerage etc not allowed for disposal of liquid assets.
ClearView consider these assumptions are reasonable as the purpose is to provide general information only.
If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts.