Income protection is a product that pays you a regular cash amount if you are unable to work as the result of an accident or sudden illness. It covers up to 75% of your income for a set period of time (e.g. six months, until the age of 65).There are two ways you can choose to insure your income: agreed value, where you decide the amount you wish to receive each month (to a maximum of 75% of your income verified at the time of application); or indemnity, where you must prove your income at the time of claim (rather than during application).
If you suffer an income loss due to sickness or injury and can no longer cover your living costs, having income protection insurance is invaluable. Income protection explained.
Having income protection means you’ll have money to help pay your debts and living expenses during your recovery from serious illness or injuries. Why get income protection?
We’ve partnered with 8 of the largest income protection brands in Australia, so you can confidently compare policies side by side. Learn more.
We’ve designed our service to let you explore a wide range of quotes. Whether you’re a high-income earner or a part-time worker, you can find an income protection policy that suits you best.
If you’ve got any questions before you decide on a policy, we can answer them either here on our website, or over the phone.
Comparing income protection policies on our website is 100% free. Insurers pay us a commission, while you pay nothing. Learn more.
There are many products that protect your income: standard income protection, redundancy insurance, or mortgage protection insurance.
If you buy income protection as a standalone policy, your premiums could be tax deductible –unless your policy is held within a superannuation account.
We answer the three main questions for getting income cover: does everyone need income protection, how do you apply, and how do payouts work?
Redundancy insurance offers you a level of financial protection in the event that you become unemployed, but isn’t always available through income protection.
Why get income protection? You’re parting with significant cash in the long term, but there is some serious advantages to being covered.
Read moreWhat would happen if you were unable to make loan payments due to losing your job or falling ill? This page explains how mortgage insurance works.
Read moreDo you need income protection, life insurance, or perhaps a different product altogether? We explain how these products differ, and their advantages.
Read more
