Income protection calculator
Estimate your monthly income gap if you were unable to work due to illness or injury. This calculator does not ask for medical details — it works from your income and expenses only.
Net (after tax) monthly income.
Mortgage/rent, utilities, food, minimum debt payments.
Include employer sick pay and SSP. UK SSP is currently £116.75/week.
Assumptions and methodology
Target monthly income = selected % of current monthly income. Available support = employer/statutory sick pay + existing protection benefit. Monthly income gap = max(target − available support, 0). Expense gap = max(essential spending − available support, 0). Note: income protection premiums are exempt from IPT.
Common mistakes to avoid
- ✕Entering gross (before tax) income instead of take-home (net) income.
- ✕Forgetting to include employer sick pay — many employers pay full or partial salary for several weeks or months.
- ✕Not checking your employer's sick pay policy before estimating how much support you would receive.
- ✕Assuming statutory sick pay would be sufficient — UK SSP is £116.75/week (2024/25).
Frequently asked questions
No. Income protection pays a monthly benefit if you cannot work due to illness or injury. Critical illness pays a lump sum if you are diagnosed with one of a specific list of serious conditions. They are different products.
Typically up to 50–70% of gross income, depending on the insurer. The policy is not designed to replicate your full income, as you receive some state support and may have lower costs when not working.
No. Income protection (permanent health insurance) is exempt from Insurance Premium Tax in the UK. The premium you pay is the net amount with no IPT on top.
A deferred period is the wait before the policy pays out. Common options are 4, 8, 13, 26, or 52 weeks. A longer deferred period generally means a lower premium. Choose a deferred period that aligns with how long your employer would pay sick pay.
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Disclaimer
This is a simplified estimate based on the assumptions shown above. It isn't a quote, and a real insurer may arrive at a different figure. Use it as a starting point, then check the details with your insurer or adviser.