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This Insurance calculator is provided by AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, the Trustee of AustralianSuper ABN 65 714 394 898. The calculator provides illustrative calculations based on stated assumptions only and is provided in good faith. It has been based on current laws and their interpretation as at today.
The information resulting from the calculations should not be relied upon as a true representation of any actual superannuation entitlements or benefits from any particular scheme or relied on as a basis upon which to alter your insurance or financial arrangements without advice from a professional.
This information is not a substitute for professional advice from a qualified financial adviser.
AustralianSuper does not 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. Under no circumstances will AustralianSuper be liable for any loss or damage caused by a user’s reliance on information obtained using this calculator.
This information has been prepared without taking into account your particular financial needs, circumstances and objectives and is therefore not suitable to be acted upon as investment or financial advice. You should assess your own financial affairs and consult a financial adviser before you make any changes to your financial affairs.
Increasing your Death, Total & Permanent Disablement (TPD) and Income Protection insurance premiums will reduce your retirement account balance.
Calculations are meant to be estimates only and are not intended to be kept or used for any practical purpose.
Before applying for any additional Death, TPD or Income Protection cover, you should always check the total weekly cost of that cover. If your application for additional cover is accepted you must ensure you maintain sufficient funds in your superannuation account to pay for the ongoing premiums.
· The premiums and levels of cover for Death, TPD and Income Protection in this calculator are based on those available in AustralianSuper's Industry, Personal and Finsuper division. Please note that different premiums and levels of cover may apply if you are a member of AustralianSuper's Public Sector Division, an AustralianSuper Corporate Plan or a super fund other than AustralianSuper.
· You should review your Death, TPD and Income Protection benefits each year to ensure you have adequate cover.
· Your superannuation account balance will generally increase over time and this should be taken into consideration.
· This calculator assumes that TPD cover ceases at age 65, whilst Death cover continues to age 70. Up to 1 January 2012, Income Protection cover ceases at age 65, but any income protection cover you have from 1 January 2012 will continue until age 70. Your cover may differ. For information on when your cover ends, please refer to your Product Disclosure Statement.
· The levels of cover and premiums for Death, TPD and Income Protection insurance may be subject to change from time to time. The premiums used in this calculator are current as at today.
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