Special Events and their effect on employment income - Australia

Special Scenario Events and their Effect on Employment

The Event Panel includes special events for use in scenario building, which are located to the bottom of the Event palette. Some of these events may affect the owner’s employment income.



Replacement mortality events, which can be used only in what-if scenarios, will end the event owner’s employment income. Other incomes owned by the deceased will continue payment to the surviving spouse or partner. 


Income Protection

The Income Protection event is used to trigger payouts from income protection cover when modelling a disability or job loss. This special modelling event is paired automatically with a Disability and Disability End event for setting the duration of the job loss or disability. Employment income is assumed to end, at least temporarily, at the Income Protection event. Employment income will begin again (with employment growth factored in for the intervening years) at the Disability End event, provided that the recovery is scheduled prior to the income’s end event, as set on the Employment screen’s Time panel.


Critical Illness

The Critical Illness event is used only to trigger payouts from the event owner’s CI cover. No assumptions are made about the impact of critical illness on one’s employment since an individual could be critically ill but still earning an income.  If the assumption needs to be made that employment ends with critical illness, simply select the employment income’s end event using an alternative event and select Critical Illness as the event ending employment.