Needs Analysis - Reducing TPD insurance amount by Income Protection Payment

This functionality allows a user to reduce lump sum Income Protection (IP) claim amount from the TPD required lump sum cover.

On the Needs Analysis screen, click on the Options button on the top right corner.



Click on Include IP Claim to enable the feature. A row named “IP Claim” will get added under Existing Capital section.



Points to be noted

  • Include IP Claim toggle will be switched off by default in Options at the Practice level. You will need to enable it.
  • The IP Claim will be reduced for TPD cover only.
  • The defaults, including enabling the Include IP Claim apply at the Practice level.



Calculation of Income Protection (IP) Claim Cover


There IP Claim benefit can be calculated in two cases –

  • If you have an existing Income protection cover

If you have Income Protection cover under existing policies, click on the Other Covers button on top to check the monthly benefit.


These existing covers have their own benefit period as per details entered under existing policy section.
By default, the offset amount will be calculated for all IP covers separately and then added to calculate total offset amount.

After-tax monthly benefit x Benefit Period(months) = total IP claim = Total amount to offset TPD



  • When a custom Income Protection is entered


In case a custom entry is made for Insurance Needs Analysis where income required per month and benefit period are entered manually, we will calculate the offset amount based on these entries.



Total IP claim = After-tax monthly benefit x Benefit period(months)



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