What is Income Protection?
Income Protection insurance replaces up to 75% of your income (and 100% of compulsory superannuation contributions) while you are unable to work due to sickness or injury.
This replacement income assists you to pay your:
- rent or mortgage payments
- living expenses
- medical expenses
Many of your dreams and ambitions are generally tied to your ability to earn an income and without this income these dreams may not be achievable. You can avoid the financial stress of drawing down on your assets or taking on more debt by taking out Income Protection insurance.
Income Protection insurance offers protection to people who would need to replace their income if they are unable to work. With Income Protection insurance to protect you, even if you can’t work, you and your family’s plans can remain attainable (whether it’s your child’s education or simply your next holiday).
Key features
- Choice of Agreed Value or Indemnity policy
- Guaranteed Renewable
- Total Disability Benefit
- Partial Disability Benefit
- Elective Surgery Benefit (not available in SuperWrap)
- Rehabilitation Expense Benefit (not available in SuperWrap)
- Recurrent Disability protection
- Protection against Inflation
- Waiver of Premium whilst on claim
- Worldwide cover
Full details of these features are available in the Product Disclosure Statement.
Income Protection Plus
With Income Protection Plus, you have access to all the benefits of Income Protection insurance with the following additional features:
Change of Waiting Period Benefit
- Enhanced Rehabilitation Expense Benefit
- Nursing Care Benefit
- Specified Injury Benefit
- Crisis Benefit
- Transport from Overseas Benefit
- Accommodation Benefit
- Family Care Benefit
- Home Care Benefit
- Death Benefit
- Future Insurability Option
- Optional Accident Benefit
Please note Income Protection Plus is not available in SuperWrap.
Full details of these features are available in the Product Disclosure Statement.
Learn more about Types of insurance
Did you know?
Term Life Insurance pays a lump sum amount if you die or are diagnosed with a terminal illness.
Living Insurance (sometimes referred to as trauma insurance or critical illness) pays a lump sum benefit if you suffer from one of a range of specific medical conditions such as cancer, a heart condition or loss of a limb.
