Compare Life Insurance Income Protection Insurance Calculator
Explore potential monthly income protection insurance amounts with our Income Protection Insurance Calculator. Use your income and basic financial details to estimate possible benefit amounts and see how different figures may affect your results.
'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.
A recent Queensland Court of Appeal decision has put fresh attention on how work-hours conditions operate in total and permanent disablement insurance, particularly where cover is held through a superannuation fund. In AIA Australia Ltd v Kelly-Stevens, delivered on 30 October 2026, the court dismissed an insurer appeal after a claim was rejected because the insured member had not continuously worked at least 15 hours a week in the three months before disablement. - read more
Australia’s new genetic testing protections are now in force, marking one of the more practical changes to life insurance underwriting in recent years. From 8 October 2026, life insurers are restricted from asking for, soliciting or using protected genetic testing information when assessing new life insurance policies or variations to existing cover. - read more
The latest life insurance claims and disputes data from Australia’s regulators is a useful reminder that buying cover is not just about finding the lowest premium. For households comparing policies, the more important question is whether the cover is likely to work as expected at claim time. - read more
Australia’s tougher operational risk regime is sharpening the focus on how life insurers manage the systems, partners and processes that sit behind every policy. APRA’s CPS 230 standard requires regulated insurers to identify critical operations, set clear disruption tolerances and strengthen oversight of material service providers. For customers, this is not just a back-office compliance story. - read more
Life insurance can be easier to understand when the key terms are explained in plain English. This guide breaks down common life insurance terminology, policy types, clauses and exclusions so you can read policy documents and ask clearer questions. - read more
Estimating life insurance cover starts with the financial gap your household could face if you were no longer there. This guide explains how Australians can consider debts, income replacement, dependants, existing cover and affordability before comparing policy options. - read more
Key person insurance is a vital component of any comprehensive business strategy. Essentially, it is a type of life or disability insurance that a company takes out on its most valuable employees—those who significantly contribute to the company’s success. In the unfortunate event that such a pivotal team member can no longer perform their duties, this insurance provides the business with financial stability, allowing it to navigate the aftermath with greater ease. - read more
Applying for life insurance in Australia usually involves questions about your health, lifestyle, occupation and finances. This guide explains how underwriting works, why accurate disclosure matters and how the process can affect policy terms, premiums and exclusions. - read more
Knowledgebase
Umbrella Policy: An additional insurance policy that provides extra liability coverage beyond the limits of the insured's primary policies.
