The right amount of income protection covers your essential expenses for as long as a disruption might realistically last. Here is how to size the benefit to your life.
Sizing income protection comes down to two questions: how much per month, and for how long. The goal is not to replace your entire income — it is to cover your essential expenses for a realistic recovery period.
Get those two numbers right and a plan does its job without costing more than it needs to.
Start by adding up your essential monthly costs — the expenses that do not stop if your income does:
That total is the gap a benefit needs to fill. Non-essential spending can pause during a disruption, so you usually do not need to replace 100% of your income — focus on the essentials. A larger benefit costs more, so match it to real needs.
Next, think about how long a disruption could realistically last for you — which depends on your field, your health, and how quickly you could return to work or replace income.
RMO MyShield offers tiers (four tiers, from $9/month). Match the tier to your essential-expense total and the recovery period you want to be protected for. Then revisit it as your income, expenses, and family situation change — the right amount is not fixed for life.
Enough to cover your essential monthly expenses — housing, utilities, food, insurance, transportation, and minimum debt payments — for as long as a disruption might realistically last for you.
Usually not. Non-essential spending can pause during a disruption, so protection is generally sized to cover essential expenses rather than 100% of income, which also keeps the cost reasonable.
Base it on how long a disruption could realistically last in your situation — your field, your health, and how quickly you could return to work or replace income all factor in.
Match the tier to your total essential monthly expenses and the recovery period you want covered. Review your choice when your income, expenses, or family situation changes.
Make sure your safety net is the right size:
