Meet Peter (45 years old)
Peter is a 45 year old Club Manager. He has elected to hold 6 units of Death and TPD cover. One unit of Death cover has a value of $90,000 (for a member aged 46 next birthday) and one unit of TPD cover has a value of $30,000.
Peter pays $1.17 per unit per week for his death cover and $1.25 per unit per week for his TPD cover. Peter’s annual premium will be calculated as (Death cover 6 * $1.17 * 52) + (TPD cover 6 * $1.25 x 52) = $755.04 per annum.