The purpose of this calculator is to estimate the life insurance benefit amounts you may need to help you in deciding the level of protection which is suitable for your circumstances.

There are many types of life insurance benefits available in the market and no product is identical to another. This calculator only considers three life insurance benefit types, being Death, Total and Permanent Disablement (TPD) and Income Protection (IP).

The calculator is not intended to be relied on for the purposes of making a decision in relation to any specific life insurance product. We therefore recommend that you consider obtaining financial advice from a licensed financial adviser and consider the relevant Product Disclosure Statement before making any decisions about acquiring or continuing to hold life insurance. TAL does not accept any liability for any loss or damage arising from any person relying on any information provided by the calculator.

The way the calculator works is by estimating amounts based on a combination of factors entered by you and a number of assumptions. The factors to be entered by your include information about your assets, liabilities and income. The assumptions used by the calculator include items you cannot change (these are matters fixed by legislation including the superannuation guarantee levy) and items which you can vary (such as the rate of inflation you think might be relevant to you). The assumptions you can and cannot change are identified in the calculator.

The factors you can enter and the assumptions selected have both been chosen by us based on a reasonable appraisal of circumstances commonly taken into account when people consider the protection life insurance can provide. Where you do not vary the assumptions you are able to change, the calculator will default to amounts we have selected based on reputable surveys and studies (called “default assumptions”). The default assumptions are based on a combination of government legislature, regulatory guidance and reputable surveys and studies.

This calculator is only intended to be a general illustration of life insurance needs based on the assumptions and limitations set out. It is also limited by the accuracy of the data you input into the calculator.

The calculator bases the estimates on the legislative environment current at the date or its preparation. This legislative environment, along with your personal circumstances, can change suddenly and the calculator is unable to predict those changes. It is also subject to a limitation that its estimates only take into account the general features of the life insurance products benefit types we have considered when preparing the calculator.

We also think you should consider these important factors when using the calculator:

• Where you have child dependants and do not provide their expense information in detail, the calculator estimates future expenses using the child support tables sourced from the Australian Government Child Support Agency.
• The calculator also uses the latest income tax brackets (as per the ATO website) and the current superannuation tax rate.
• The calculator only includes child dependants. You should also consider the need to support any adult dependants where necessary.
• If you are not working full time, the calculator will not provide coverage for the replacement value of any unpaid domestic duties.

Copyright reserved by TAL Life Limited (ABN 70 050 109 450 AFSL number 237848) or one of its related bodies corporate. "Investing in Life" is a registered trademark of TAL Services Limited (ABN 60 076 105 130) one of TAL Life Limited’s related bodies corporate.

The assumptions and information provided in this insurance calculator are given in good faith and have been derived from sources believed to be correct and reliable as at 27 May 2017 and are subject to the terms and conditions of the insurer, TAL. However, as the assumptions and information may change, TWUSUPER gives no warranty or guarantee as to the accuracy or reliability of the information in the insurance calculator. The information is not intended to be investment or financial advice. TWUSUPER recommends that you do not make any decisions concerning insurance arrangements based solely on the information contained in the calculator and that you consider seeking financial advice before making any decisions.