Home Loans Australia Income Protection Insurance Calculator
Find out how much monthly disability income protection insurance you qualify for. Use our calculator to estimate cover levels tailored to your income and needs.
Calculator results are estimates only and not quotes. Actual quotes will be provided by licensed brokers after you submit an enquiry.
Simply enter your personal gross income in the space below, select the frequency that you receive your current income and press [calculate] to determine the amount of cover you qualify for.
* Notes:
Most insurers limit the amount of income insurance that you can buy to 75% of your gross income.
If you are self-employed or operate your own business you may qualify for additional cover and benefits.
Your Gross Income figure should represent only your income from personal exertion, not investment income.
This calculator is provided as a rough guide only. You should seek professional advice from a licensed income insurance specialist before making decisions relating to something as important as income protection insurance!
How to use our Income Protection Insurance Calculator
Our Income Protection Insurance Calculator helps you estimate the monthly disability income benefit you may qualify for based on your gross income. This is important because most Australian income protection insurers cap benefits (often around 75 percent of gross income) to reduce over-insurance and to help ensure cover remains affordable. Use this calculator as a starting point to understand potential benefit levels before comparing policy features such as waiting periods, benefit periods and definitions of disability.
How to complete the calculator (step by step)
1. Enter Gross Income
Type your personal gross income before tax. For the most accurate result, use income from personal exertion (salary, wages, regular contracting income). Avoid including investment income or one-off windfalls. If your income varies, consider using an annualised average based on your most recent financial year and current pay pattern.
2. Select Per (income frequency)
Choose how often you receive the income you entered: week, fortnight, twice monthly, month, or year. Match the frequency to the figure you typed. For example, if you entered an annual salary, select year.
3. Calculate your estimate
Select calculate to generate an estimated monthly cover amount you may qualify for, applying common insurer limits.
How to interpret the results
1. Treat the output as an eligibility estimate, not a quote or approval. Actual benefits depend on insurer rules, underwriting, occupation category, medical history, and policy terms.
2. Compare the estimated monthly benefit to your essential monthly expenses (mortgage or rent, groceries, utilities, debts, insurance, childcare). Consider whether you would also need to cover super contributions or rehabilitation costs.
3. Remember real policies can include offsets (for example workers compensation or other benefits), plus waiting period and benefit period choices that materially change cost and suitability.
Important ASIC note: This calculator provides general information only and does not consider your objectives, financial situation or needs. Consider reading the relevant Product Disclosure Statement and Target Market Determination, and seek advice from an appropriately licensed adviser before making a decision.
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