Income Protection - IP

Income Protection Cover is designed to help secure your income if you were unable to work for an extended period of time due to illness or injury. Income Protection Insurance allows you to cover up to 70% of your monthly Gross income (excl Super). You will continue to receive this on a monthly basis (once your waiting period has passed) until you return to work or to the end of the benefit period.

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Importance of Income Protection

Key Benefits of Life Insurance:

Purpose of Cover

Maintain your lifestyle even when you can’t work due to sickness or injury Cover monthly living expenses and debt repayments.

Peace of Mind

Give yourself the time to heal & recover without having to worry about how you are going to pay your bills!

Cover upto 70% of you Gross Annual Income

This amount is paid monthly (less any tax applicable) into your bank account on a monthly basis, while on claim. *Option to additionally cover contributions going into your Super. This amount (currently at 11.5%) will go directly into your Super Fund/ SMSF, while on claim

Tailor your cover to suits your needs/ budget

  • Waiting Period Options: 30 Days, 60 Days, 90 Days, 120 Days
  • Benefit Period Options: 1 year, 2 Years, 5 Years, Upto Age 65
  • Increasing Claims option
  • Option to pay from your Super/ SMSF or Outside

How much does Income Protection cover cost?

 *The below premiums are indicative and are meant to give you an estimate of approximate premiums.
Quotes are valid as of Feb’2025 & subject to expiry

IP Cover

Male - Monthly Premium35 Yrs Old40 Yrs Old45 Yrs Old50 Yrs Old55 Yrs Old
$6K Cover$36$37$46$69$120
$10K Cover$53$55$70$106$188

Female - Monthly Premium35 Yrs Old40 Yrs Old45 Yrs Old50 Yrs Old55 Yrs Old
$6K Cover$45$52$67$107$180
$10K Cover$67$79$103$168$285

Costs are based on:
* Waiting Period: 90 Days
* Benefit Period: 5 years
* With with Increasing Claim option
* Non-Smoker
* Health BMI Range
* White Collar Worker
* Standard Rates: Insurers may apply loading/ exclusions based on medical history/pre-existing medical conditions if any.
* Super Rebates will apply if paying through your Super/ SMSF
* Further Discounts/ Tax Deductions may apply based on your scenario OR covers that you take