The income requirement calculation assumes that the lump sum, when invested, will provide an income at the rate of 5%, plus growth at least equal to the underlying inflation rate.

Accordingly, it allows for an inflation protected income to be paid, whilst preserving the real value of the funds.

• No allowance has been made for tax on the income protection benefits, other taxable income or, where applicable, on the partners income.
• Consideration needs to be given, to the likelihood of increased costs and expenses in the event of (especially) long-term incapacity.
• Where applicable, you also need to consider each partners ability to maintain their current income level in the event of the other being disabled for any extended period.

The calculations and results you receive from the insurance needs calculator is to be used as a guide only and is not intended as a substitute for any specific financial advice you may obtain. The insurance calculator does not take into account all possible factors that may impact the amount of insurance suitable for a specific person. Those seeking a personalised recommendation as to the amount of insurance required for their specific circumstances should seek professionalised advice from a licensed financial advisor.