Life insurance calculator assumptions

Your estimated cover is calculated on a scenario of death occurring immediately with the current information you have disclosed.
All home loans and personal debt will be covered in full so that you don't need to cover these debts from your personal estate.
An immediate expense is assumed for funeral and other immediate costs at a default at $8,000. This amount can be adjusted.
An annual inflation rate is applied to all ongoing expenses to ensure your family will be able to maintain their current lifestyle. This is defaulted to 1.6%. This amount can be adjusted.
Other income (if any) derived from assets or earned by your partner/relatives are not used to cover expenses.
No major assets will need to be sold to cover expenses.
Any existing cash savings from a savings or superannuation account are not used to cover expenses.
Your living and ongoing expenses will be covered for a number of years after the event of death. The number of years is calculated by the number of years until your youngest child reaches 18, subject to a minimum of 5 years, unless otherwise adjusted.
If no children are disclosed, 5 years are covered from event of death.
If you have childcare or education costs, you should enter those in your monthly living expenses.
It is assumed that the claim amount after being paid out will not accrue any investment returns.

Average Expenditure (weekly)	$1,260.90
Minus Dwelling	$323.20
Minus Education	$21.50
Minus Mortgage Interest Payment	$91.20
Net Expenditure (weekly)	$825.00
Net Expenditure (monthly)	$3,575.00
2019 Adjusted	$3,749.00

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