Life & Health Risk Reality Calculator

This gives the probability of the described event occurring between the current age and retirement age.

Death probabilities are based on mortality tables published by the Institute of Actuaries ('00' series assured lives mortality tables).
The industry rates are intended to apply to a population of insured individuals (i.e. people who own life insurance policies). LV= have adjusted the rates provided by the table to be applicable to the general population (including people who do not own insurance cover) based on our internal views.

Critical illness probabilities are based on morbidity inception statistics published by Gen Re ('CIIT00_SCI' claim diagnosis rates for accelerated critical illness insurance - this covers major critical illnesses).

These standard rates are intended to apply to a population of insured individuals (i.e. people who own critical insurance policies). LV= have adjusted the rates provided by the table to be applicable to the general population (including people who do not own insurance cover) based on our internal views.

Illness preventing employment probabilities have been calculated using in-house views derived from industry available tables and aggregate in-house experience on income protection business sold, assuming a typical occupation class and a deferred period of 2 months.
These industry tables are intended to apply to a population of insured individuals (i.e. people who own income protection insurance policies). LV= have adjusted the rates provided by the table to be applicable to the general population (including people who do not own insurance cover) based on our internal views.

If a secondary applicant is selected the third column gives the probability of the event happening to either person (or both) assuming two independent lives.

If a secondary applicant is selected the probabilities refer to a difference period of time for each, using the entry ages and retirement ages for each person as input to inform the period of calculation.

These statistics give a reasonable guide to the average experience expected over a large number of people, individually everyone is unique and as such this should only be used as a rough guide.

Illness probabilities assume you do not die in the period selected.