Income Protection Calculator
Calculate income protection insurance premiums to safeguard your financial security
Income & Details
Ready to Calculate
Enter your income details to calculate protection premiums.
How to Use This Calculator
Enter Income Information
Input your monthly income and age. These are key factors that determine your benefit amount and premium costs for income protection insurance.
Select Occupation and Health
Choose your occupation type and current health status. These factors significantly impact your premium rates due to different risk levels associated with various jobs and health conditions.
Configure Coverage Options
Set your benefit period (how long benefits last), waiting period (time before benefits start), and benefit percentage (portion of income replaced).
Review Premium Calculation
Examine your monthly and annual premiums, total benefits, and the factor breakdown that shows how each element affects your premium rate.
Income Protection Tips
Income protection insurance typically replaces 50-85% of your income if you become unable to work due to illness or injury.
Longer waiting periods generally result in lower premiums - choose based on your emergency fund and other benefits.
Consider your occupation's risk level when choosing coverage - high-risk jobs may require specialized policies.
Review your coverage annually or when your income changes significantly to ensure adequate protection.
Group policies through employers are often cheaper but may not provide sufficient coverage for high earners.
Pre-existing medical conditions can affect premiums and coverage - disclose all health information honestly during application.