Income Protection Plus - Time Saver

Winner of Canstar


No matter what life throws at you.

Wouldn’t it be great to know you could still provide for your household, even if you were sick or injured for a while? Our Income Protection Plus Time Saver option covers from $500 up to $7,500 a month – and it’s very simple to apply.

Benefits at a Glance

  • Up to 85% of your income, to $7,500 per month when you're out of action. Pre-existing medical conditions are excluded.
  • Affordable, tax deductible premiums from just a dollar a day+ for lower levels of cover.
  • Easy - If you’re an Australian resident aged 18 to 60, you can apply for Rate Saver cover over the phone or online in minutes, simply by answering a few questions, including lifestyle and medical details. It doesn’t matter whether you work full-time or part time and we now cover more occupations than ever before.
  • Choice of payout period – choose a benefit payout period of 6, 12 or 24 months for Sickness or Injury cover.
  • Straightforward claims process - If you or your family needs to make a claim, we make the process as stress free as we can, with personal attention from an experienced Claims Manager.
  • We'll be there when you need us. Once you recover and return to work, your plan stays in place in case you ever need it again.
  • Enjoy 12 months for the price of 11 when you choose to pay your premiums annually.

Optional Extras

  • Involuntary Unemployment Cover – choose to insure up to 85% of your income up to $3,000 a month if you find yourself involuntarily unemployed due to a redundancy or if your business becomes insolvent.
  • Homemaker Cover – add your partner to your policy, so if they are unable to complete their usual household duties due to sickness or injury, they can receive a payment of up to $3,000 a month. Plus we’ll give both you and your partner a 5% discount.
  • Permanent Disability Cover – add up to $500,000 cover in case a sickness or injury leaves you permanently disabled and unable to perform your daily activities.
  • Holiday Injury Benefit – receive an extra one-off payment of up to $3,000 if you’re injured during state school and public holidays, or if you’re injured more than 200km from home.
  • Kids Injury Cover – give your kids an extra measure of protection with payouts of up to $50,000 for a range of common childhood injuries.
  • Family discounts – receive a discount when you add your partner to your policy.

Exclusions & Restrictions

  • Pre-existing medical conditions are not covered.
  • Fixed waiting period – you must be out of work for 28 days or more before making a claim under your Involuntarily Unemployment Cover.
  • Mental health disorders, normal/uncomplicated pregnancy and claims that arise from self-harm are not covered. Please see our Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG) for full details on what is and isn’t covered by the policy.

Want to know more about this product?

Download our Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG).

  • Common Questions

    At InsuranceLine, we promise to answer all of your questions in plain English, so you know exactly where you stand.

    Here you can find answers to the most common questions we get asked about Income Protection Insurance.

    For anything else, call us on 13 77 87 or read the Income Protection Insurance Combined Product Disclosure Statement (PDS) and Financial Services Guide (FSG).

    • What is the difference between Rate Saver and Time Saver?

      Time Saver is popular for those who want a fast and easy application process without the need to answer medical and lifestyle questions up front. This greatly reduces the time required to join the plan and instead, we’ll gather this information at the time of a claim.

      Rate Saver  on the other hand, is available for those who are happy to answer some health and lifestyle questions in return for more great features, including a cheaper premium, higher cover amount, shorter Waiting Periods and longer Benefit Periods. It also has fewer exclusions and limitations.

    • If I make a claim, how much will I get?

      Your monthly payouts are based upon either your cover amount (that you have applied for successfully), or 85% of your pre-claim monthly income – we’ll pay you whatever amount is lower.

      Generally, we calculate monthly income as a before-tax average over the last 12 months before you became sick or injured. If you’re self-employed, we’ll deduct any business expenses to calculate this amount.

      We’ll also reduce your payouts if you receive other income while you’re not working – for example, a payout from another income protection policy, workers’ compensation or social security. If this extra income plus your cover payments add up to more than 85% of your pre-claim monthly income, we’ll reduce your payouts accordingly.

      Remember that while your premiums are tax-deductible, your monthly payouts are assessable for tax.

    • When would my payouts start?

      Once your claim has been approved, and after the waiting period has finished, we pay income protection payouts one month in arrears. So if your waiting period is 28 days, and you become eligible to claim on 1st September, you’ll see out your waiting period, and receive your payment at the end of October – all claims are paid at the end of the first claimable month. After this, you’ll receive your payout at the end of each month, until your benefit period runs out or you’re able to return to work.

    • How long would I get payouts for?

      Payouts will continue until the benefit period you’ve chosen runs out (6 months, 12 months or 24 months), or you’re able to return to work. With Rate Saver, you can choose a benefit period of 6 months, 12 months, 24 months or 5 years.

    • What’s not covered?

      As with all insurance policies, there are some things that are excluded. InsuranceLine Income Protection Plus, Rate Saver and Time Saver exclude:

      • Mental health disorders, including anxiety disorders, depression and stress, disorders related to fatigue, drug or alcohol abuse.
      • Taking intoxicating liquor.
      • Cancer, stroke or heart attack in the first six months after your cover starts.
      • Normal and uncomplicated pregnancy.
      • Terrorism, civil commotion or unrest in countries outside Australia, if the Australian government has advised against travel to that country.
      • War or an act of war.
      • Any intentional self-inflicted act, including exposing yourself to risk of sickness or injury for any reason.
      • Committing, or attempting to commit, a criminal offence.
      • We won’t make any payments if you’re in jail or lawfully detained.
      • We may also apply other specific exclusions to your policy. These will be agreed with you when you take out your policy.

       If you have a Time Saver plan, there are additional exclusions for sickness or injuries caused by:

      • A pre-existing medical condition
      • A dangerous occupations or pastime
      • Football related injuries that result in you being off work or unable to perform your usual duties for less than 90 days
      • Back injuries that result in you being off work or unable to perform your usual duties for less than 90 days

      If you were not able to, or only partially able to, perform your regular daily activities before you started your policy, a benefit may not be payable.

      Involuntary Unemployment, Kids Injury and Permanent Disability Cover also have specific cover terms and exclusions.

      For more details about what isn’t covered, see the Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG).

      Involuntary Unemployment Cover 

      If you take out optional Involuntary Unemployment Cover, please be aware that you’re not covered where you became aware of, or you were notified of, redundancy within the 6 months immediately following the start of your cover. Also, you’re not covered if your Involuntary Unemployment is a result of any of the following:

      • Sickness or injury.
      • Voluntary redundancy or resignation, or abandonment of employment, retirement or early retirement.
      • Unemployment as a result of circumstances known to you, or where an employer has announced to the public or publicised in mainstream media, prior to the Cover Commencement Date, an intention to reduce staff numbers by way of redundancies.
      • An employer terminating the Life Insured’s employment during a probationary period.
      • Being personally insolvent or under any form of personal insolvency administration, including bankruptcy, due to personal debts.
      • Your business being unable to pay its debts, or you or your business being served with any document to commence proceedings or process for you or your business to be placed in any form of insolvency administration for business-related debts, at any time prior to or within the first six months from your Cover Commencement Date.
      • The end of employment in a family business controlled by you or an immediate family member.
      • Misconduct, dishonesty, or engaging in criminal activities, or illegal acts, or drug and/or alcohol abuse or intoxication.
      • Poor performance in carrying out your occupation including dismissal following formal disciplinary procedures.
      • Your refusal of any offer of reasonable alternative employment by your employer linked to your education training and experience.
      • Any strike or labour dispute or labour disturbance involving you or your employer.
      • The loss of, or not maintaining the currency of any licence, authorisation or permit required to operate the business, including the loss of a driver’s licence, trade or professional certification.
      • You cease work due to the seasonal, casual or temporary nature of employment, or a contract (including a fixed term contract), is terminated early or completed.
      • Involuntary Unemployment occurring outside Australia.
      • If you’re in jail or otherwise lawfully detained.
      • No Involuntary Unemployment Cover Benefit is payable if you’re not actively seeking work or are not registered with Centrelink or a Recruitment Agency approved by us to seek work.
    • What happens if I leave information out when I apply?

      You must give us the information we request when you apply for Income Protection Plus, and answer all of our questions honestly and completely. That’s because if you do make a claim, we’ll need to check your medical, employment and financial records. If it turns out you didn’t reveal something important, we may have to refuse your claim.
    • When does my cover end?

      As long as your premiums are paid when due, your sickness, injury and Permanent Disability cover will continue right up until the renewal date after you turn 75. On that date, your policy will end. Your Unemployment cover ends at age of 65 or earlier if cancelled. Kids Injury Cover ends when the insured child turns 18.

    • Will my premiums go up?

      Premiums generally increase with age each year at the anniversary of your plan or if you increase cover. Unless otherwise requested, premiums also increase each year for the automatic adjustment for inflation (your level of cover will also increase by the same percentage).

      The underlying premium rates are not guaranteed, but once your plan has started, you will never be singled out for a premium increase. Any increase will be applied to all policyholders to whom the same premium rate table applies, with 30 days written notice.

    • If I cancel my policy, will I get a refund?

      When you take out Income Protection Plus, we give you a 30 day money back guarantee - so if you cancel your policy in the first 30 days, we’ll give you a complete refund.

      After that, there are no refunds. Your policy simply gives you income protection insurance cover - it is not a savings plan.

    • What happens if I can’t pay my premiums?

      Let us know immediately if you can’t pay a premium so we can help you work out an alternative arrangement. Your cover will cease if your premiums are more than 30 days overdue and you will lose this valuable benefit.

    • Who will I be dealing with during my claim?

      You will be given a dedicated Claims Manager whose details will be on the accompanying cover letter that we’ll send in the event of a claim. He or she will personally oversee your case and help you work through the details of your claim.

      You can contact your dedicated Claims Manager while you’re settling your claim. They will explain anything that is not covered here or talk through any concerns you might have.

      Want to know more about our Income Protection Time Saver Plan? Get a quote and apply online or call 13 77 87 today.

  • How does it work?

    Time Saver provides a payout of up to 85% of your income to $7,500 per month if a sickness or injury leaves you out of action. You choose how to use your payment - to help with rent or mortgage repayments, car repayments, household bills, credit card payments or even the basics like food and clothing.

    To keep your premiums as affordable as possible, some exclusions, which are outlined in the Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG). A specific exclusion relating to Time Saver includes the pre-existing medical condition exclusion – so there is no cover for illnesses or injuries you had before taking out this plan. The complete list of exclusions is found in the PDS.

    By answering some questions about your health and lifestyle, you may be able to reduce the cost of your plan, with our Rate Saver option.

    Want to know more about our Income Protection Time Saver Plan? Get a quote and apply online or call 13 77 87 today.

  • Is it for me?

    Income Protection Insurance provides an income to you when you can’t work due to sickness or injury. So if you or anyone else relies on your income to cover living expenses, it’s worth thinking about Income Protection Insurance as the fact is, 1 in 3 Australians will be disabled for more than three months at some stage during their working lives*.

    With flexible payment plans, including fortnightly, monthly or annual payments on a date you choose, it’s easy to afford. There are no medical checks required, and you can take out cover quickly and easily over the phone.

    By answering some questions about your health and lifestyle, you may be able to reduce the cost of your plan, with our Rate Saver option.

    Want to know more about our Income Protection Time Saver Plan? Get a quote and apply online or call 13 77 87 today.

  • How much can I get?

    Time Saver covers up to 85% of your income, with a maximum payout of $7,500 per month.

    Want to know more about our Income Protection Time Saver Plan? Get a quote and apply online or call 13 77 87 today.

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