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Australian Income
Protection Insurance
can cover up to 75%
of your gross income



Income Protection Insurance Australia

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Most people in Australia who have heard about income protection insurance for the first time often say i don't need income protection insurance. What is income protection? Like the name suggests, income protection plans provide financially protection to people who cannot work temporarily due to health reasons. These plans ensure that the claimant gets monthly payments for a set number of months or years after he files a claim.

Income protection insurance is a specialized type of insurance plan offered to people who want to live without constantly worrying about money. People who are interested in ensuring that their families do not suffer financially at any time, can insure themselves for up to 75% of their gross yearly income. Buyers who are eligible may be offered an additional 8% protection by insurance companies. Buyers are always encouraged to declare all components of their salary package when they apply for a policy since these policies are tax deductible...read more >>

Benefits Income Protection Insurance

  • financial help every month;
  • ‘waiting period’ between fourteen days and two years;
  • 'benefit period’ of two or five years, or up to age 65;
  • covers up to 75% of your gross income;
  • and more

Type Of Income Protection

  • Long term and short term plans
  • Indemnity and agreed value contracts
  • Basic plans and good plans
  • Stepped premiums and levelled premiums

Reason To Buy Income Protection

The main reason to purchase income protection insurance is to protect yourself & your family during the hard times.

Case Study

Story: 45 year-old couple with nice two teenage kids and a $490,000 mortgage with the father earning $75,000 a year and the mother earning $22,000 for part time work. The father has an extended illness and is forced to take nine months off work.

Income Protection Insurance pays him $4,687.50 per month until he returns to work, allowing the family to meet their living expenses and continue paying the mortgage.

Income Protection Insurance For Professionals



Monthly Income Protection Insurance Benefit

Gross Income per annum Monthly Benefit
$25,000.00 $1,562.50
$30,000.00 $1,875.00
$35,000.00 $2,187.50
$40,000.00 $2500.00
$45,000.00 $2,812.50
$50,000.00 $3,125.00
$55,000.00 $3,437.50
$60,000.00 $3,750.00
* calculated at 75% of gross income per annum

Income Protection Insurance

Latest Income Protection & Insurance Industry News

Income protection insurance looking for bigger push
posted 10 May 2012

The necessity of income protection (IP) has been communicated well through the advice channel, but the insurance industry itself needs to collectively lift its game, according to insurance providers. “There’s still a challenge that we have in positioning the need for income protection and it’s not an independent financial adviser thing, it’s a community awareness ...

Can an Employer Read my Income Protection Policy?
posted 9 May 2012

Income protection policies are designed to help the policy holder and his family financially when he is unable to earn a steady income due to health problems. These policies can be purchased by employees independently by visiting an insurer’s website. Mentioned below are some questions that will answer queries such as can an employer read ...

Income protection Australia: what should you know
posted 28 Apr 2012

Income Protection, what is that ? What should you know ? You are likely thinking about income protection is in the first instance. To elucidate it simply, income protection can give you a stable flow of compensation, in the event that you can’t work. An sickness or accident or any amount of medical issues can ...

Income Protection Myths & Facts
posted 14 Apr 2012

Myth1: It’s only worthwhile if you earn a six-figure income. Fact: If you are dependent on your pay packet to provide for you and also your family’s approach to life, there’s a dependency that needs protection. Myth2: My automobile and house are concerns. Fact: It’s a smart idea to defend your most important asset, your ...

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