This Excel calculator makes assumptions based on the information that you enter to estimate the sum insured you may need for the following personal insurances:
- Income protection
- Total and permanent disability (TPD)
Everyone’s insurances needs will be different depending on their current circumstances as well as the lifestyle they would like for themselves/their family on sickness, death or disability. For someone who is close to retirement, has significant savings and/or no dependants insurance needs can be minimal. However for those who are early in their career, have a young family and/or do not have significant savings insurance can be incredibly important.
This calculator is not a substitute for personal financial advice but will provide suggested sums insured depending on your circumstances. Before making any financial decisions, such as taking out new insurance policies, consider your own financial circumstances, needs and objectives and consider getting professional financial advice. Please contact an Andep adviser if you would like assistance arranging for insurances.