Health Insurance Online 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.
In recent weeks, Australia's leading insurance companies, including Insurance Australia Group (IAG), Suncorp (SUN), and QBE Insurance (QBE), have experienced notable declines in their share prices. This downturn is largely attributed to growing investor concerns about the potential disruptive impact of artificial intelligence (AI) on the traditional insurance business model. - read more
In 2026, Australian insurers are grappling with significant challenges as premium affordability becomes a pressing concern. A recent survey by Gallagher Bassett highlights that 70% of insurers have reported increased claim costs and frequencies over the past year. This surge is largely attributed to escalating climate-related losses and inflationary pressures affecting materials and labour costs. - read more
In a significant development for Australian small and medium-sized enterprises (SMEs), Zurich has partnered with US-based cyber insurance specialist Cowbell to introduce an AI-driven cyber insurance product tailored for businesses with annual turnovers up to $100 million. This collaboration marks a pivotal step in enhancing cyber resilience among Australian SMEs. - read more
In a landmark decision, the Australian Financial Complaints Authority (AFCA) has directed an insurer to honor an arson-related claim for a restaurant, despite the non-disclosure of the director's criminal history during the policy's inception. This ruling underscores the complexities surrounding disclosure obligations and the interpretation of policy terms. - read more
The New South Wales Productivity Commissioner, Peter Achterstraat, has recommended the prohibition of commissions received by strata managers for securing insurance and other contracts. This move aims to enhance transparency and protect the interests of apartment owners, especially as strata living becomes increasingly prevalent in Sydney. - read more
Finding affordable health insurance can be a daunting task, particularly in a landscape as diverse as Australia’s. With a myriad of options available, it's crucial to understand the financial support mechanisms in place that can ease the burden of healthcare costs. One such mechanism is the health fund rebate, a key feature of the Australian health insurance system designed to make healthcare more accessible. - read more
Exploring the realm of health insurance can be like navigating a labyrinth, replete with complex terms and varying policies. Among these, health fund rebates emerge as a crucial element, particularly for young Australians embarking on their journey of health coverage. Fund rebates can significantly lighten the financial burden, transforming the quest for health insurance from daunting to empowering. - read more
In Australia, health insurance plays a significant role in ensuring individuals can access quality medical care without incurring prohibitive costs. - read more
Preventive healthcare refers to measures taken to prevent diseases, rather than treating them after they occur. This includes actions like regular health screenings, vaccinations, and adopting healthy lifestyle practices. - read more
The modern Australian family faces a dynamic and ever-evolving set of health needs, with access to quality healthcare remaining a cornerstone of managing our wellbeing. As these needs shift through the different stages of life, the assurance of having a safety net in place can provide unparalleled peace of mind. It's this sense of security that makes adequate health insurance coverage indispensable in today's fast-paced society. - read more
Knowledgebase
Term Life Insurance: A life insurance that provides a cover for a specific period of time - usually one to five years or until the insured reaches age 65 or 70.
