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Calculators
Income Protection

Income protection calculator

Tell us about your income, essential spending and the support you would have if you couldn’t work. We’ll use this to estimate the monthly income gap you may want to protect.

Your details

Use your essential spending and the financial support available to estimate the monthly income gap you may want to protect.

If you are employed, enter your gross annual salary before tax. If you are self-employed, enter a sustainable earned-income figure you can evidence. Insurers define eligible earnings differently.

Enter your gross yearly income before tax. If you're self-employed, use a sustainable annual income you can evidence.

Include essential costs such as your mortgage or rent, household bills, food, travel, debt repayments and childcare. Do not include spending you could readily stop.

Include things you would still need to pay, such as your mortgage or rent, household bills, food, travel, debts and childcare.

Also called the deferred period. Income protection payments begin only after this period has passed and a valid claim has been accepted. Available periods vary by policy.

Choose a period that reflects how long your sick pay, savings or other support could help cover your costs.

Include monthly sick pay and other dependable income you expect to use before income protection payments could begin. Enter £0 if none.

Include employer sick pay or other dependable monthly income. Enter £0 if you would receive none.

Enter only savings you would be comfortable using to meet essential costs before potential payments begin. Leave blank if none.

Only include savings you would be comfortable using towards your essential costs.

Include any income or existing cover you expect to continue once the waiting period ends. Do not include the new income protection cover being estimated.

Include any ongoing income or existing cover you expect to continue. Don't include the new income protection cover being estimated.

Your results

Complete the fields and select Calculate my income gap to see your estimate.

Your next steps

Your repayment estimate is a starting point. Check how much you could borrow, compare mortgage rates and take the next step towards a mortgage.

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Understand income protection

Learn how income protection works, including waiting periods, benefit limits and what can affect the cover available to you.

Explore income protection →

Explore critical illness cover

See how critical illness cover could provide financial support if you are diagnosed with a specified serious illness.

Explore critical illness cover →

Consider life insurance

Explore how life insurance could provide financial support for the people who depend on you if you die during the policy term.

Explore life insurance →

Want help protecting your income?

Not sure how much cover to consider or which waiting period could suit you? Our protection advisers can help you understand your options and how income protection could fit alongside your sick pay, savings and existing support.

Speak to a protection adviser

Your questions answered

The calculator estimates how much monthly income protection cover you may want to explore based on your earnings, essential monthly outgoings and other financial support.

It also estimates the amount you may need to fund during your chosen waiting period before an income protection policy would start paying.

The results are illustrative only and do not confirm the amount of cover an insurer would offer.

The calculator looks at your essential monthly outgoings and the ongoing financial support you expect to receive after the waiting period.

It subtracts that ongoing support from your essential outgoings to estimate the monthly income gap you may want to explore protecting.

The calculator also shows this amount as a percentage of your gross monthly income. It does not cap the estimate at a particular percentage of your earnings. If the illustrated amount is above 65% of gross income, the calculator highlights that some insurers may offer a lower benefit because provider formulas and limits vary.

The waiting period, also called the deferred period, is the time between becoming unable to work and the point at which income protection payments could begin following an accepted claim.

The calculator lets you model waiting periods of 4, 8, 13, 26 or 52 weeks. During that time, you may need to rely on sick pay, savings or other financial support.

The calculator treats support during and after the waiting period separately.

Support you expect to receive during the waiting period is deducted from your essential monthly outgoings to estimate how much money you may need before cover could begin. Your available savings are then compared with that amount to show an estimated savings remaining or shortfall.

Ongoing support after the waiting period is used separately to calculate the monthly cover amount to explore.

Usually not. Income protection policies are generally designed to replace a proportion of your earnings, rather than your entire income.

The calculator shows your estimated monthly income gap as a proportion of gross income, but the amount shown is not confirmation that an insurer would offer that level of cover.

The amount available to you can depend on factors including your earnings, occupation, existing cover and the insurer’s policy terms and benefit limits.

No. The calculator estimates a potential level of cover to explore, but it does not calculate an insurance premium or confirm that cover is available.

The cost and terms of income protection can depend on factors such as your age, occupation, health, level of cover, waiting period and policy term.

An insurer will assess your circumstances before confirming the cover, premium and policy terms available to you.

Important information

These results are for guidance only and are based on the information you enter. They are not an insurance quote, policy recommendation or confirmation that cover is available.

The monthly cover amount shown represents your essential monthly outgoings less the ongoing support you enter for after the waiting period. The calculator does not apply an insurer-specific benefit limit or confirm that the illustrated amount would be available.

The amount of income protection available may depend on your income, employment status, occupation, health, sick pay, savings, existing cover, waiting period, benefit period and the insurer’s criteria.

Income protection policies vary between providers. Benefit limits, exclusions, waiting periods and definitions of incapacity can apply, so check the policy documentation carefully before choosing cover.

Payments are made only where a valid claim meets the terms and conditions of the policy. Premiums must normally continue to be paid for cover to remain in place.

Muttuo does not provide tax or legal advice. Tax treatment can depend on your circumstances and may change in the future.