See the monthly benefit a tiered insurer formula would allow on your income, and how that figure is built up band by band.
Insurers do not offer to replace all of your income. Most apply a tiered formula to gross annual earnings, covering a high proportion of the first portion and progressively less above it, subject to an overall monthly ceiling. The calculator below applies one such formula so the shape of it is visible.
The figure it produces is a starting point for a conversation rather than an application. What an insurer is prepared to offer depends on occupation, health history, income evidence and any cover already held, and those differ from person to person.
A tiered formula would allow up to
$0/ month
$0 / year, before tax
This is an estimate built from the published formula of one insurer. It is not a quote and not an offer of cover. Health, occupation, income evidence and any cover you already hold all affect what an insurer will actually accept. Read the important information below
How that’s calculated
Income protection benefits are generally treated as assessable income, so tax is usually payable on them. Every figure shown here is before tax. Your accountant or tax adviser can explain how this applies to you.
A Curo adviser can walk you through how each insurer on our panel treats your income, what the waiting and benefit periods mean, and what a policy is designed to pay if you claim.
This is an estimate built from the published formula of one insurer. It is not a quote and not an offer of cover. Health, occupation, income evidence and any cover you already hold all affect what an insurer will actually accept.
This is a guide, not a quote. It applies one tiered formula used by one of our panel insurers. Curo also places business with other insurers whose tiers, caps and add-on rules differ.
Australian insurers generally cap income protection benefits using a tiered percentage of gross annual income. For policies issued since 1 October 2021, ongoing benefits are generally limited to 70% of pre-disability earnings after the first six months of a claim. Each insurer sets its own tiers, monthly cap and add-on rules, and these vary materially between insurers.
Income protection benefits are generally treated as assessable income, so tax is usually payable on them. Every figure shown here is before tax. Your accountant or tax adviser can explain how this applies to you.
General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.
To the maximum extent permitted by law, Curo Financial Services takes no responsibility for reliance by any person on the information in or produced by this calculator.