Disclaimer

Welcome and congratulations on making the decision to look into your life insurance needs.

Purpose

There are many types of life insurance benefits available in the market and no product is identical to another. The Trustee does not intend that this calculator will influence your decision about your super or any financial product and no such intention should be inferred.

This insurance calculator can provide you with an estimate of your current life insurance, total and permanent disablement (TPD) and income protection needs. The calculated cover does not take into account any existing cover you might have, whether held outside or inside superannuation.

It’s important you evaluate the appropriateness of insurance to your financial circumstances. You should consider the cost of cover over time as this may impact the amount of money you end up with in retirement. Large or multiple amounts of insurance cover may erode savings you will have available for your income when you stop working. Like most types of insurance, you have the option to change, review or cancel at any time.

The calculated type and amount of cover is not a recommendation or an opinion about appropriateness of the cover and is not intended to be an exact figure. It does not take your financial needs into account and is purely based on the information entered and the assumptions. Your decisions should not be made in reliance on the results produced. You should consider obtaining professional advice from a licensed financial adviser before making any decisions about your insurance, the need for any other types of insurance or for any replacement of insurance. Please take time to read all of the details about the calculator – how it works, the conditions and limitations.

Please take time to read all of the details about the calculator – how it works, the conditions and limitations.

How it works

The way the calculator works is by estimating amounts based on a combination of factors entered by you and a number of assumptions. Key assumptions, such as the costs associated with living, can change.

The factors to be entered by you include information about your assets, liabilities and income. There are assumptions you cannot change (these are matters fixed by legislation) and assumptions you can change (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. Where you do not vary the assumptions, the calculator will use the default assumptions.

The factors you can enter and the assumptions selected have both been chosen based on a reasonable appraisal of circumstances commonly taken into account when people consider the protection life insurance can provide. The default assumptions are based on a combination of government legislature, regulatory guidance and reputable surveys and studies.

The cost of cover tool provides factual information about the costs of cover by applying the information that you enter.

Conditions and limitations

The estimated outcome produced from the calculator is intended to be illustrative only based on the assumptions and limitations set out. The outcome is also limited by the accuracy of the data you enter into the calculator.

The calculator does not make any assumptions about you or your circumstances. Before making any financial decisions consider your own financial circumstances, needs and objectives and consider getting professional financial advice.

The calculator bases the estimates on the legislative environment current at the date of 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 product benefit types in the Fund.

About this calculator

This insurance calculator has been made available to anyone by the Trustee. It has been developed by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL), whose copyright is reserved. TAL is responsible for the calculation methodology and the outcomes produced as a result of the information you add about your circumstances. The systems and logic included in the calculator are based on existing legislation at the date of its preparation and do not take into account any proposed legislative changes.

TAL is the insurer underwriter for all insurance cover provided through the Fund. As such, the estimated amounts of insurance cover resulting from the use of the calculator are provided as a guide only and do not constitute a quote or guarantee that the cover that will be available to you. The estimated cover may be subject to underwriting assessment and approval by the Trustee and TAL. Premium loadings and/or policy exclusions may also apply.

While you complete this calculator, you will enter certain personal and financial information. TAL does not collect that information and will not make it available to a TAL representative that you may subsequently speak to in regards to your quote or an application. As such, you may be required to provide the same information at a later stage, especially if you are applying for underwritten insurance cover.

Disclaimer

The information presented in this calculator contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available on this website. The cost of providing financial services is included in the fees in the Fund as disclosed in the relevant PDS.

Neither the Trustee nor TAL accept any liability, either direct or indirect, arising from any person relying, either wholly or partially, upon any information, provided by, resulting from, shown in, or omitted from, the calculator. In no way will the Trustee or TAL be liable for any loss or damage caused by a user’s reliance on information obtained using this calculator.

NGS Super Pty Limited ABN 46 003 491 487 AFSL 233 154 the trustee of NGS Super ABN 73 549 180 515.

Other important information

NGS Super offers three types of insurance cover:

  • Life (includes a Terminal Illness benefit)
  • Total and Permanent Disablement (TPD)
  • Income Protection

The premiums used in this calculator are based on those stated in the current NGS Super PDS and Insurance Guide.

The premiums calculated are based on the information you have provided, including your employment information.

The calculated premiums for income protection (up to two and five year benefit payment period options) reflects cover expiry age 67. Where you have cover expiry age of 65 (for example - you have up to two year benefit and age 63+ as at 1 June 2017, up to five year benefit and age 60+ as at 1 June 2017 or are covered under special arrangements), please refer to Member Online for details of your current insurance premiums.

Let's get started on your insurance costs

The calculator makes assumptions based on the information you enter to estimate how much it may cost to maintain your (and your family’s) lifestyle if something happens to you.

To start we need to know a few things about you so we can estimate the cost of maintaining your (and your family's) lifestyle if you die or suffer a disability and can no longer work.

Please note that Internet Explorer 11 and below is not supported by this tool. Please use an alternate browser

Personal Details


Your age must be between 15 and 74.
Your age must be between 15 and 74.
Please enter your current age.
Please select your gender
$
Please enter a valid salary, you salary must be bigger than 0
Max value is 99,999,999

Entry must be {{$ctrl.maximumDependentAge}} and under

Financial details

The calculator makes assumptions based on the information you enter to estimate how much it may cost to maintain your (and your family’s) lifestyle if something happens to you. You can choose to enter a total figure or work through each question. The more detailed information you provide, the more reliable the calculation of your insurance needs will be.


Your Income & Expenses
$
Your salary must be greater than zero.
Your income exceeded the maximum value of $999,999,999.99 annually.
You must enter a value for your income.
$
Your partner’s income exceeded the maximum value of $999,999,999.99 annually.
$
Your other income exceeded the maximum value of $999,999,999.99 annually.
$
$
The maximum total expenses allowed is $999,999,999.99
Total income must not be less than your expenses.
Your Assets & Debts
$
The maximum total assets allowed is $9,999,999,999.99
$
The maximum total debts allowed is $9,999,999,999.99

Calculated insurance cover

The summary below is an insurance cover estimate that has been calculated using the information you have provided. It should only be used as a guide and not advice.

Your estimated Total & Permanent Disablement (TPD) cover is

{{$ctrl.calculateTpd() | currency:undefined:'0'}}

TPD insurance can provide financial security for your future if you become totally and permanently disabled and can never work again.

  • TPD cover may provide you with a lump sum payout. This can provide you and your dependants with money to live on. It can also help you pay for medical expenses and aids, or any extra support you might need.
  • Amount for future expense {{$ctrl.calculateFutureExpensesTpd() | currency:undefined:'0'}}
    Plus extra disability expense {{$ctrl.calculateExtraDisabilityTpd() | currency:undefined:'0'}}

    Less Income protection cover -{{$ctrl.calculateLessIncomeProtectionCover() | currency:undefined:'0'}}

Your estimated Income Protection (IP) Cover is

{{$ctrl.calculateIp() | currency:undefined:'0'}} per month

This is an estimate of the amount paid to you in monthly instalments once you have met the definition of being totally, but temporarily disabled. Definitions and conditions for benefits and the payment of benefits are outlined in the Product Disclosure Statement.

  • A monthly payment if you met the definition of being totally, but temporarily disabled.
  • Based on {{ $ctrl.percentageOfIncome}}% of current income.
  • Benefit period {{ $ctrl.benefitPeriod}}. Waiting period {{ $ctrl.waitingPeriod}}.
{{$ctrl.updateNeedsIncomeProtectionList()}}

If you were to suffer from a disability, additional expenses may be incurred (such as changing your home to allow wheel chair access). Below is an estimate of the average additional expense you may suffer. The amount you need may change depending on the type of disability. If you choose, you are able to alter this figure.If you were to suffer from a disability, you may incur additional expenses like to allow wheel chair access. Below is an estimate of the average additional expense. The amount you need may change depending on the type of disability. You can choose the amount you think you might need.

$
Explanation of the extra disability calculation

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Cost of your insurance

The kind of work you do can impact the cost and type of insurance cover. By answering the questions the calculator can work out the approximate cost. The calculation below is an estimate. This is not a quote and should be used as a guide only.

Insurance information


  • {{occupationData.description}}
$
?
?

Life Cover

$
Please select an amount of cover that is $0 or more
Please select an amount of cover that is $10,000,000 or less
Please select an amount of cover between $0 and $10,000,000
Estimated Weekly Premium
Cover Unavailable
{{$ctrl.totalDeathCoverWeeklyPremium | currency}}

Total & Permanent Disablement (TPD) Cover

$
Please select an amount of cover that is $0 or more
Please select an amount of cover that is $5,000,000 or less
Please select an amount of cover between {{0 | currency:'$':'0'}} and {{$ctrl.isDeathCoverAmountExceedingMaxTpdCoverAmount() ? $ctrl.totalDeathCoverAmount : $ctrl.maxTpdCoverAmount | currency:'$':'0'}}
{{$ctrl.tpdGreaterThanDeathError}}
Estimated Weekly Premium
Cover Unavailable
{{$ctrl.totalTpdCoverWeeklyPremium | currency}} Cover Unavailable

Income Protection (IP) Cover

$
Please select an amount of cover that is $0 or more
Please select an amount of cover that is $30,000 or less
Please select an amount of cover between $0 and $30,000
{{$ctrl.incomeProtectionWarningThresholdErrorMessage}}
Estimated Weekly Premium
Cover Unavailable
{{$ctrl.incomeProtectionWeeklyPremium | currency}} Cover Unavailable

Total cost summary

Cover Cover amount Estimated Weekly Premium
Basic (automatic) death cover* Fixed (automatic) death cover* {{$ctrl.roundNumberToNearest($ctrl.basicDeathCoverAmount,1000) | currency:'$':0}} {{$ctrl.basicDeathCoverAmount | currency:'$':0}} {{$ctrl.basicDeathCoverAmount | currency:'$':0}}

Estimated Weekly Premium

{{$ctrl.basicDeathCoverWeeklyPremium | currency}}
Basic (automatic) TPD cover* Fixed (automatic) TPD cover* {{$ctrl.roundNumberToNearest($ctrl.basicTpdCoverAmount,1000) | currency:'$':0}} {{$ctrl.basicTpdCoverAmount | currency:'$':0}} {{$ctrl.basicTpdCoverAmount | currency:'$':0}}

Estimated Weekly Premium

{{$ctrl.basicTpdCoverWeeklyPremium | currency}}
{{$ctrl.roundNumberToNearest($ctrl.basicIncomeProtectionCoverAmount,1000) | currency:'$':0}} {{$ctrl.basicIncomeProtectionCoverAmount | currency:'$':0}} {{$ctrl.basicIncomeProtectionCoverAmount | currency:'$':0}}

Estimated Weekly Premium

{{$ctrl.basicIncomeProtectionCoverWeeklyPremium | currency}}
Death cover {{$ctrl.roundNumberToNearest($ctrl.voluntaryDeathCoverAmount, $ctrl.deathAmountInterval) | currency:'$':0}}

Estimated Weekly Premium

{{$ctrl.voluntaryDeathCoverWeeklyPremium | currency}}
Total & Permanent Disablement cover {{$ctrl.roundNumberToNearest($ctrl.voluntaryTpdCoverAmount,$ctrl.tpdAmountInterval) | currency:'$':0}}

Estimated Weekly Premium

{{$ctrl.voluntaryTpdCoverWeeklyPremium | currency}}
Monthly Income Protection cover* {{$ctrl.voluntaryIncomeProtectionCoverAmount | currency:'$':0}}

Estimated Weekly Premium

{{$ctrl.voluntaryIncomeProtectionCoverWeeklyPremium | currency}}

This print out is not a quote

{{$ctrl.waitingPeriodDisclaimer}}

This print out is not a quote

{{$ctrl.unitizedDisclaimer}}

{{$ctrl.baseDisclaimer}}

{{$ctrl.waitingPeriodDisclaimer}}

Estimated Weekly Premium
{{$ctrl.calculateTotalWeeklyPremium() | currency}}
{{$ctrl.monthlyPremiumFromAnnualMessage}}

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