Free Calculator

Super IP vs Retail Income Protection

Enter your details below to instantly see what you'd actually receive - and how much of a gap your super fund cover leaves.

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$
Your estimated results
🏦 Super Fund IP
$0/mo
Estimated monthly benefit
🏆 Retail IP Policy
$0/mo
Estimated monthly benefit
💡 Extra coverage with retail: $0/month

Important: This calculator provides general information only and does not constitute personal financial product advice.

The results shown are illustrative estimates based on the inputs you have provided and general assumptions about typical super fund income protection and retail income protection policies. They do not represent a quote, a Statement of Advice (SoA), or a recommendation for any specific product or insurer.

Actual benefit amounts, waiting periods, benefit periods, policy definitions, and premium costs vary significantly between super funds and retail insurers, and depend on your individual circumstances including age, occupation, health history, income type, and chosen policy terms. Super fund income protection entitlements are governed by your fund's trust deed and Product Disclosure Statement (PDS), which you should read carefully.

Thompson Financial Services Pty Ltd ACN 162 326 552 t/as Skye Wealth is a Corporate Authorised Representative of Skye Money, AFS Licence No. 545313. Before making any decision about income protection insurance, you should consider your personal objectives, financial situation, and needs, and obtain a copy of the relevant PDS. We strongly recommend you speak with a licensed financial adviser. Read our full disclaimer.

Feature Comparison

Super IP vs Retail - side by side

Most Australians don't realise how limited super fund income protection actually is. Here's the truth.

Feature Super Fund IP Retail IP Policy
Maximum monthly benefit Usually capped at ~75% of salary ✓ Up to 70–75% (no fund cap)
Benefit period ⚠ Often 2 years max ✓ Up to age 65 available
Waiting period flexibility ⚠ Fixed by fund rules ✓ 14, 30, 60, 90 day options
Own occupation definition ✗ Usually 'any occupation' ✓ True own-occupation available
Agreed value option ✗ Not available ⚠ Legacy policies - speak to adviser
Covers self-employed income ✗ Often excluded or reduced ✓ Specifically designed for it
Rehabilitation benefits ✗ Rarely included ✓ Built-in return to work support
Tax treatment of premiums ⚠ Via concessional super contribution ✓ Personally deductible outside super
Portability if you change jobs ⚠ May lose cover on fund switch ✓ Policy stays with you always
Why It Matters

Your income is your most valuable asset.

Most Australians insure their car and home - but forget to insure the thing that pays for everything.

📉
1 in 5 Australians will be disabled before 65
Illness or injury is far more likely to stop you working than death. Yet most people dramatically under-insure their income.
⏱️
Super IP often only pays for 2 years
A serious illness or injury could keep you off work for 5, 10, 20 years. Super fund IP typically runs out in 24 months.
🏠
Your mortgage doesn't pause
Repayments, school fees and living costs continue regardless of your health. Income protection is what bridges that gap.
💼
Self-employed Australians face a cliff
No sick leave, no workers comp for most illnesses. If you're self-employed, your income stops the moment you do.
💰
Premiums are generally tax deductible
For retail IP held outside super, your premiums are typically deductible - making cover more affordable than most people realise.
🛡️
Super alone is rarely enough
Too many Australians find out the hard way that their super fund IP falls well short. Get the right cover before you need to claim.
1 in 5
Australians become disabled before age 65
2 yrs
Typical super IP benefit period - then it stops
70%
Max monthly income a retail policy can replace
$0
Cost of your 15-min call with a Skye adviser
The Process

Four steps. All online.

From calculator to covered - here's how simple it is to get the right income protection in place.

Use the calculator
See your super IP gap instantly. Takes 60 seconds, no sign-up needed.
Book your free call
15 minutes with a Skye Wealth adviser. They explain your options clearly - no jargon.
Get a tailored recommendation
A personalised Statement of Advice built around your income, health and goals.
Apply & get covered
We handle the paperwork digitally. You focus on what matters - your work and family.
What clients say

Real people. Real outcomes.

★★★★★

"I had no idea my super IP would have stopped at 2 years. The calculator opened my eyes. I now have retail cover to age 65 and actual peace of mind."

Primary school teacher
Income protection client, Melbourne
★★★★★

"As a tradie running my own business, I'm my own sick leave. Skye walked me through the self-employed options and found me cover that actually makes sense."

Self-employed builder
Income protection client, Brisbane
★★★★★

"Your patience and dedication with all of the paperwork was fantastic. If you hadn't spoken to me about TPD we would have never known what he was entitled to."

Skye Wealth client
TPD claim recipient
Meet your adviser

Talk to an expert. Not a robot.

The calculator gives you the numbers. Phil gives you the advice. Book a free 15-minute call and leave with a clear picture of what cover you actually need.

Phil Thompson
CEO & Founder, Skye Wealth
Phil Thompson, CEO of Skye Wealth
Phil Thompson
CEO, Skye Wealth

Phil founded Skye Wealth to make quality life insurance advice accessible to every Australian. He lives and breathes insurance - and built this tool because too many Australians are flying blind on income protection.

AFSL Licensed Life Insurance Income Protection TPD & Trauma
Common Questions

Everything you need to know.

Super fund IP is basic group cover: typically capped benefit periods (often 2 years), limited definitions, and terms set by your fund trustee rather than you. Retail income protection is a standalone policy tailored to you: benefit periods up to age 65, own-occupation definitions, shorter waiting periods, and features like increasing claims benefits. The difference in payouts over a long claim can be hundreds of thousands of dollars.
Yes. Premiums for income protection insurance held personally (outside super) are generally tax deductible under Section 8-1 of the ITAA 1997. Benefit payments are assessable income. IP held inside super uses pre-tax dollars but is not directly deductible. A Skye adviser will help you choose the most tax-efficient structure for your circumstances.
Most policies cover up to 70% of your pre-disability income. The right amount depends on your monthly commitments (mortgage, school fees, living costs), existing assets and savings, any sick leave entitlements, and whether you have dependants. Our free calculator gives you an estimate - a Skye adviser will work through the exact numbers with you.
The waiting period is how long you must be off work before benefits begin. Shorter waiting periods (14–30 days) cost more but protect you faster - good if you have limited savings or sick leave. Longer periods (60–90 days) are cheaper and work well if you have a buffer. For most employed Australians, 30–60 days aligns with employer sick leave provisions.
Yes, but the combined benefit cannot exceed 70% of your pre-disability income. Many Australians keep their super IP in place (especially if it's cheap group cover) and take a top-up retail policy to reach full coverage. A Skye adviser can model the most cost-effective combination for your situation.
Yes - genuinely. No commission pressure, no hard sell, no commitment required. Skye Wealth's model is built on honest advice. If income protection isn't right for you, Phil will tell you. We would rather have a genuine conversation than sign you up for something you don't need.

Your income deserves protection.

The calculator takes 60 seconds. The call takes 15 minutes. Getting the right cover takes one good conversation.

No cost. No commitment. Just honest advice from people who care.