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How Much Cover Do I Need?
Death & Total and Permanent Disablement (TPD) Cover
The level of cover you need depends on your personal situation, including your age, the number of dependants you have, any additional family income (e.g. from investments or your spouse), and the amount of your savings and debt.
Take a few moments with our Insurance Calculator and check whether you have enough insurance.
Cost of cover
Calculate how much it will cost for the insurance using our calculation sheet below.
Once you have used the Insurance calculator to determine the amount of cover you require and the shortfall you may have you can use the table below to help you calculate the cost additional insurance cover required.
You can enter the values directly from the calculator into Step 1, 2, 3 and 4 below.
Step |
Questions to consider |
Example |
Your Calculation |
1 |
Total required cover |
$650,000 (A) |
$ |
2 |
Current cover with Catholic Super |
$90,000 (B) |
$ |
3 |
Current cover not with Catholic Super |
$50,000 (C) |
$ |
4 |
Death & TPD cover shortfall (additional cover required) |
A - B - C =
$510,000 (D) |
$ |
5 |
If you have a shortfall, calculate how much this additional insurance will cost you by dividing the shortfall by $1,000 and then multiply this amount by the annual cost for your age (use the Build Your Own Table).
For example, a 40 year old with a shortfall of $510,000 will need 510 additional units of cover and will pay $0.83 per annum for every $1,000 of insurance. |
$510,000 (D)
cost is:
$510,000/1,000
=510 x $0.83
= $423.80 |
$ |
More Information
More information about the Insurance options available can be found in the Product Disclosure Statement or you can contact the Fund Office.
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FSG statement
