Income protection calculator
  Our example Your estimate
Part 1 Where does your income go?
Simply fill in your estimate of where your own income goes each month. (If you share expenses, simply put your share of those expenses)
Rent or mortgage $1,250
Vehicle and transport (eg fuel, bus fares) $250
Your home (eg rates, electricity, insurance, repairs) $350
Food $525
Education/Childcare $425
Other $200
Monthly total $3,000
* clothing and entertainment are seen as discretionary in the short term and are excluded for this calculator.
Part 2 How secure is your income?
Are you employed or self employed?  Employed  Self employed
How many weeks of sick leave do you have? 2    
Number of months that you are protected by sick leave 0.46    
Part 3 Savings you can fall back on
Cash in hand $1,000
Savings, term deposits $500
Managed funds $500
Shares $2,500
Other $0
Total $4,500
Part 4 How long before you need to change things?
Number of months you could survive without an income before selling off liquid assets or making lifestyle changes. 1.96    
Number of days you could survive without an income before selling off liquid assets or making lifestyle changes. 60    
Date you may require other income should you become totally disabled today      

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.

ClearView Life Assurance Limited ABN 12 000 021 581 AFSL No. 227682 issues life insurance products. Before deciding whether to acquire a ClearView product, please refer to the relevant Product Disclosure Statement (PDS), available online or by contacting 132 979 for details of the terms of the relevant product, including costs and exclusions that apply.