Income Replacement Calculator

Our income replacement calculator shows how much insurance you need to replace your income if you cannot work — accounting for employer sick pay, SSP (£116.75/week), and savings to calculate the true shortfall.

Enter your monthly household essential outgoings and your current monthly take-home pay. The gap between your income and essential expenses is your financial buffer — the calculator shows how long your buffer and any existing savings would sustain you if your income stopped. This helps size the monthly benefit needed from an income protection policy: the benefit should be enough to cover essential outgoings, not necessarily your full take-home, because some discretionary spending can be reduced in a crisis. Income protection benefit is paid tax-free when premiums are paid personally, which means a benefit of 60% of gross salary often approximately replaces your normal net pay. If your employer provides sick pay beyond statutory SSP, factor this into the deferred period selection to avoid paying for overlap.