Income protection insurance calculator
See what monthly benefit income protection cover could pay if you couldn't work — and how the waiting period and benefit period trade off against cost.
What this means for you
Fill in the fields above to see your estimated monthly benefit.
Compare cover levels
See how the monthly benefit changes at different cover percentages.
| Cover level | Monthly benefit |
|---|---|
| 50% | $0 |
| 62.5% | $0 |
| 75% | $0 |
Assumptions & sources
Typical NZ income protection policy structures (cover percentage caps, waiting and benefit period options) offered by major insurers.
1 July 2026
17 July 2026
Monthly benefit = gross annual income × cover percentage ÷ 12. Premium range is an illustrative industry rule of thumb, not a quote.
Benefit amount based on your income and chosen cover percentage.
Underwriting factors (age, health, occupation, smoking status), tax treatment of the benefit, and insurer-specific policy wording, all of which affect real eligibility and premiums.
Related reading
How much insurance do you actually need in NZ?
Life, income protection, health, house and car cover all compete for the same budget — here's how to prioritise.
Read article →
Is private health insurance worth it in NZ?
Weighing private cover against NZ's public health system — what you actually gain, and what it costs.
Read article →How much income protection cover can you get?
Most NZ insurers cap income protection at around 75% of your gross income, sometimes with a split between a fixed "agreed value" and an "indemnity" basis assessed at claim time. The idea is to replace most, not all, of your income — insurers want you to retain an incentive to return to work.
Waiting period vs benefit period
A longer waiting period (the time between when you stop working and when payments start) generally lowers your premium, since you're covering the short-term gap yourself — often with sick leave or savings. A longer benefit period (how long payments can continue) generally raises it, since the insurer is on the hook for longer.
Frequently asked questions
Most insurers cap cover at around 75% of your gross income, sometimes structured as a mix of agreed value and indemnity cover. The exact maximum and structure varies by insurer and occupation class.
Age, health, occupation (physical risk), smoking status, the waiting period and benefit period you choose, and whether cover is agreed value or indemnity all move the premium significantly — get a personalised quote for an accurate figure.
The time between when you become unable to work and when your income protection payments begin — commonly 4, 8, 13 or 26 weeks. A longer waiting period usually means a lower premium, since you cover the initial gap yourself.
