Income Protection insurance

An Income Protection policy provides your client with a monthly benefit to replace a portion of the income lost when the insured person is unable to work at their full capacity due to sickness or injury. If such an unfortunate event were to occur, BT Income Protection Assured can replace up to 70% of their monthly income.

How BT Income Protection Assured can help your client

  • Your client can treat the benefit payments almost as if they were a monthly salary – using it for loan repayments, day-to-day living expenses and any medical expenses.

  • The option provides flexibility and choice at claim time, to suit their circumstances.

  • The insured person can increase their monthly benefit in line with the increases to their income every 12 months up to a maximum of 15% each year.

Ownership and tax information

Income Protection can be held outside of superannuation, or within. When held outside superannuation, the policy owners can be the insured person, a trust, or a business entity. When held within superannuation, the policy is owned by the fund’s trustee, and can be through a Retirement Wrap, Platform Super or an SMSF.

Generally, premiums are tax deductible and payments are assessable for tax purposes.

BT Protection Plans

All BT Protection Plans provide the following features, to ensure that your client is receiving the most value out of their policy:

  • CPI increases

  • Guaranteed renewable

  • Guaranteed upgrades

  • Multi-Policy discount

  • Wrap and Platform Super discount

  • Premium Holiday

  • Cover continuation

  • Worldwide cover – 24 hours a day.

Speak to your Business Development Manager or call BT Adviser Services

A target market determination has been made for Protection Plans products. Please visit for any of our target market determinations.

The Insurer and Issuer is Westpac Life Insurance Services Limited ABN 31 003 149 157 AFSL 233728, except for Term Life as Superannuation, Income Protection as Superannuation and Income Protection Assured as Superannuation, issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 as Trustee of Retirement Wrap ABN 39 827 542 991. They are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714, who does not guarantee the insurance. This information does not take into account your personal circumstances. Terms and conditions, and limitations and exclusions apply. Please read the Product Disclosure Statement to see if this insurance is right for you.

© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714