Income Protection Insurance

Income cover

Up to 75% of your monthly income, up to at $10,000 per month.

Tax deductible premiums

Usually, you can claim the premiums you pay as a tax deduction.

Annual discount

12 months’ cover for the price of 11 when you pay annually.

Cover for physical and Mental Health-Related injuries & illnesses 

Pre-existing conditions covered subject to health criteria.

Flexible payment options

Pay fortnightly, monthly, or annually.

Your choice of Claim Waiting Period

14, 28, 60 or 90 days for Sickness or Injury claims. A 6-month Qualifying Period applies for Mental Health-Related Conditions.

Your choice of Claim Payout Period

6, 12, 24 months or 5-year options with a maximum 2-year benefit for Mental Health-Related Conditions.

Straightforward claims process

Experienced claims managers to help you when needed most.

Lower rates

For non-smokers for new applications.

Accident Benefit Option

If you select this optional cover, when you have a Waiting Period of 14 or 28 days, and your claim will be paid in arrears for the Waiting Period. If you don't select this option, your Waiting Period is not payable. Terms and conditions apply.

For details, see the Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG).

See the Combined PDS & FSG for full details of exclusions.

Qualifying Periods apply after the Cover Commencement Date for Sickness and Injury Cover and Mental Health-Related Conditions. You will not be paid a benefit amount for Sickness, Injury or Mental Health-Related Conditions that occur during Qualifying Periods. A Qualifying Period applies when you first take out cover, and if you increase your monthly benefit amount.

• Income Protection Sickness and Injury Cover commences 7 days after the Cover Commencement Date, and after any increases in cover.
• Cover for Mental Health-Related Conditions commences 6 months after the Cover Commencement Date, and after any increases in cover. The Accident Benefit Option is not available on policies with a 60 or 90-day Claim Waiting Period.

The following things are not covered under Insuranceline Income Protection:

• Pregnancy: normal and uncomplicated pregnancy, childbirth or miscarriage. Normal and uncomplicated pregnancy includes, but is not limited to morning sickness, backache, varicose veins, ankle swelling, bladder problems, multiple pregnancy, or participation in an IVF or similar program.
• Self-harm: any intentional act of self-harm. This includes exposing yourself to risk of sickness or injury for any reason.
• Drug and alcohol related sickness or injury: taking intoxicating liquor (however, we will pay a claim if you are at or under the legal blood alcohol limit for driving); taking drugs (unless prescribed to you by a medical practitioner and taken in the correct dose).
• Overseas Travel: No payments will be made under Income Protection if the event giving rise to the claim occurs while you are visiting a country for which the Australian Department of Foreign Affairs and Trade (DFAT) issued a ‘Do Not Travel’ warning advice prior to your travel to that country, and which continues to be in force during the time of your stay in that country.
• Criminal activity: any sickness or injury that occurs as a result, or during, committing or attempting to commit a criminal offence.
• In jail or lawfully detained: any sickness or injury that occurs as a result, or during, the Life Insured being in jail or in lawful detention.
• War and terrorism: terrorism, civil commotion or unrest; guerrilla or insurgent activities in countries outside Australia, if the Australian Government has advised you to not travel to that country; war, or an act of war.
• Other: any other specific exclusion agreed with you first and as listed in the Policy Schedule.

• If you are replacing another insurance policy, you may lose valuable benefits so you should consider the terms and conditions of each insurance policy before deciding to make the change.
• Income Protection Insurance is not a savings plan. If you cancel it, you won’t get anything back (exception applies during the cooling-off period).
• Always consider how cover exclusions and restrictions may affect you if you need to claim. Alternative products and cover options may be available through other insurance providers, including directly from the insurer of Insuranceline products, TAL.
• The product and cover amount you choose may not be appropriate for your needs. Always read the PDS, consider alternatives, and think about an appropriate cover amount. Review your cover regularly to make sure it meets your needs.
• Other risks associated with holding this product can be found in the PDS.

Income Protection Insurance gives you a regular stream of income to stay on top of bills if you’re unable to work due to illness or injury. Insuranceline Income Protection Insurance provides a payout of up to 75% of your monthly income, up to $10,000 per month, if illness or injury leaves you unable to work. It is a way to help protect yourself and your dependants from financial stress. You can 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. 

According to the ATO, you can usually claim income protection premiums that you pay, as a tax deduction, if you take out cover outside of your superannuation. If you have taken out the policy within your superannuation, then you may not be eligible to claim your premiums as a tax deduction.

The future is unpredictable, but you can be prepared and plan for the unexpected, such as a sudden halt to your income. So, it doesn’t matter if you’re young and healthy, starting a family, or an empty-nester, Income Protection can help keep regular money coming in if you can’t work for an extended period due to serious illness or injury. It can help you and your family to maintain the lifestyle you’re used to while you focus on recovering.

Debilitating illness and injury can strike suddenly and without warning. If you don’t have enough sick leave or cash savings, the bills can soon pile up, assets you worked hard for may have to be sold, and the standard of living you've enjoyed could be lost—maybe for just weeks or months, maybe permanently. Insuring yourself can help safeguard your financial position and bring peace of mind.

If your job is the main source of income, or if you’re the family’s main breadwinner, then taking out Income Protection could be one of the best financial decisions you can make.

• Unlike WorkCover, Income Protection Insurance covers you 24/7, not just while you’re working or travelling to and from work
• The premiums for Income Protection Insurance are usually tax-deductible
• We can pay you up to 75% of your income for up to 5 years (claims for Mental Health-Related Conditions are capped at 2 years in total)
• Get regular payments of up to $10,000 per month
• Pay premiums fortnightly or monthly, whichever suits your pay cycle
• You can also pay annually and receive a discount.

The Claim Waiting Period is the amount of time after a Sickness or Injury occurs that you must wait before your payments commence. You can choose a Claim Waiting Period of 14, 28, 60 or 90 days for Sickness and Injury claims. The longer the Claim Waiting Period you choose, the lower the cost of your cover. If you are off work and make a claim, you will not receive any payments for the duration of your Claim Waiting Period. Once you’ve been continuously off work for the duration of your Claim Waiting Period, you’ll start receiving payments a month later, as they’re paid a month in arrears. If you have a Claim Waiting Period of 14 or 28 days and you have the Accident Benefit Option as part of your policy, your claim may be back dated to the date your Accident or Injury occurred and the Claim Waiting Period will be waived. Terms and conditions apply, read the PDS for more information.

When evaluating your application, we assess a variety of personal and lifestyle factors, including the sports and hazardous activities you participate in, and whether these activities are recreational or professional. Certain recreational sports and activities, such as football, might be covered without amendment or could require a higher premium (referred to as a 'premium loading'). Alternatively, we may place a longer waiting period on your policy for claims from injuries sustained while participating in that specific sport or activity. We will inform you of any loadings or amendments before you proceed with purchasing coverage, and the impact these options have on your premium.