Income protection calculator

Useful Tools

How long could your lifestyle (and that of any dependants) survive without your income? Our handy calculator may help in finding out. You might be surprised by the results!

Note: This calculator is based on assumptions detailed below. You should read these carefully as they may not be appropriate to your personal circumstances.

Income Protection Calculator
	Our Example	Your estimate
Part 1 Where does your income go?
Simply fill in your estimate of where your own income goes each month. (If you share expenses, simply put your share of those expenses)
Rent or mortgage	1,250
Vehicle and transport (eg fuel, bus fares)	250
Your home (eg rates, electricity, insurance, repairs)	350
Food	525
Education/childcare	425
Other	200
Monthly Total	3,000
* clothing and entertainment are seen as discretionary in the short term and are excluded for this calculator.
Part 2 How secure is your income?
Are you employed or self employed?	Employed Self employed

How many weeks of sick leave do you have?	2

Part 3 Savings you can fall back on
Number of months that you are protected by sick leave	0.46
Cash in hand	1,000
Savings, term deposits	500
Managed funds	500
Shares	2,500
Other	0
Total	4,500
Part 4 How long before you need to change things?
Number of months you could survive without an income before selling off liquid assets or making lifestyle changes.	1.96
Number of days you could survive without an income before selling off liquid assets or making lifestyle changes.	60
Date you may require other income should you become totally disabled today

How much might it cost to protect my income?

To find out how much it may cost to protect your income, get an estimate.

Important things to know

1. This calculator is not intended to be relied on for the purpose of making a decision in relation to life insurance and you should consider obtaining advice from a financial adviser before making any financial decisions.

2. MBF Life gives no assurance that this calculator is free of errors or suitable for any user's intended purposes.

3. To the extent permitted by law, MBF Life will not be liable for any damages or loss suffered by the user or anyone else from use of this calculator.

Assumptions

1. Sick leave is at full rate of pay.

2. No major assets are sold off to cover expenses

3. Expenses are not reduced during a period of total disability.

4. Transaction costs, brokerage etc not allowed for disposal of liquid assets.

If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts.

Top

Useful Tools