Income Protection Calculator

How Much Income Protection Do You Need?

Work out the monthly benefit you would need if illness or injury stopped you working. Add your essential outgoings and any income that would continue, and the calculator shows the gap a policy would need to fill, alongside the cap insurers apply.

Benefit Calculator

Estimate your monthly benefit

Adjust the figures below and your suggested benefit updates instantly.

Before tax, from the work you would be unable to do.

£
Your essential monthly outgoings
£
£

Loans, childcare, and anything else you could not stop paying.

£

Income that would continue, such as a partner's earnings.

£

Insurers cap this so there is still an incentive to return to work. It is typically somewhere between 50% and 70%, and varies by insurer.

50%70%

Suggested monthly benefit

£1,750

per month, before any deferred period

Essential outgoings
£1,800
Other household income
−£0
Monthly shortfall
£1,800
Most you could insure (60%)
£1,750

Your outgoings exceed the cap by £50 a month. A policy would not cover everything, so it is worth talking through which costs you would prioritise or reduce while claiming.

A rule-of-thumb figure to start a conversation. It does not account for your deferred period, occupation definition, medical history or budget.

Discuss this with an advisor

How this calculator works

It works in two steps. First it finds the monthly gap you would need to fill, then it checks that against the most an insurer would typically let you cover.

Suggested benefit = the lower of (essential outgoings − other household income) and (gross monthly income x the insurable percentage)

  • 1. Add up what you must keep paying. Mortgage or rent, bills, food, travel, and any commitments you could not simply stop, such as loans or childcare.
  • 2. Take off income that would continue. Usually a partner's earnings. What is left is the shortfall a policy would need to cover.
  • 3. Apply the insurer's cap. Insurers limit cover to a percentage of your gross income, typically between 50% and 70%, so there is still an incentive to return to work.
  • 4. Mind the gap. If your outgoings exceed the cap, the calculator says so. That is a useful thing to know before you speak to anyone.

Want the full reasoning?

Our guide, income protection vs sick pay, explains how employer sick pay and Statutory Sick Pay fit alongside a policy, and why the deferred period is usually the lever that matters most. If you are weighing it against a lump-sum product, read critical illness cover vs income protection.

Income Protection

How income protection works, deferred periods, and own occupation cover.

Learn more →

Not sure this is the right cover?

Answer five questions and see which types of cover fit your circumstances.

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FAQ

Income Protection Calculator FAQs

Common questions about working out how much income protection you need

How much income protection do I need?
A common starting point is the gap between your essential monthly outgoings and any income that would continue without you, such as a partner's earnings. That figure is then limited by the percentage of your own income an insurer will cover. This calculator works through both steps and shows you where the two meet.
Why can't I insure all of my income?
Insurers cap the benefit so there is still a financial incentive to return to work. The cap is typically somewhere between 50% and 70% of gross income and varies by insurer, so the calculator lets you adjust it. If your essential outgoings are higher than the cap allows, the calculator flags the shortfall.
Should I include my partner's income?
Include it under other household income if it would genuinely continue while you were unable to work. That reduces the shortfall the policy needs to fill, which usually reduces the cover you need. If your household relies on both incomes to meet essential costs, be careful not to overstate what would be left.
What is a deferred period and how does it change things?
The deferred period is how long you must be unable to work before payments begin, commonly 4, 8, 13, 26 or 52 weeks. A longer deferred period usually reduces the premium, but you need enough savings or employer sick pay to cover that gap. This calculator estimates the monthly benefit itself, not the deferred period, which is worth discussing with an advisor.
Does this calculator tell me what income protection will cost?
No. It estimates the monthly benefit you might want, not the premium. What you actually pay depends on your age, occupation, health, smoker status, the deferred period, how long the policy pays out for, and the insurer. An advisor can talk you through real figures on a free callback.