Income Protection

PROTECT YOUR INCOME

No matter what life throws at you.

Our Income Protection helps you protect your all-important income through illness, injury or even redundancy. Our Rate Saver Cover offers up to 85% of your income, up to $10,000 a month. If you’re unable to obtain underwritten cover, our Time Saver Cover offers 85% of your income up to $7,500 per month.

Benefits at a Glance


  • Affordable, tax deductible premiums from just a dollar a day# for lower levels of cover.
  • With Rate Saver, you can cover up to 85% of your income, up to $10,000 a month**. Premiums are also tax deductible.
  • For those unable to obtain Rate Saver Income Protection due to their health, lifestyle or occupation, our Time Saver Cover offers 85% of your income up to $7,500 per month.
  • Easy - If you’re aged 18 to 60 and an Australian resident (or New Zealander living in Australia on a permanent basis), you can apply for Income Protection over the phone or online in minutes, simply by answering a few questions, including lifestyle and medical details. No medical tests are required.
  • Choice of payout period – Choose a benefit payout period of 6, 12, 24 months for Time Saver Cover. A payout period of up to 5 years is also available with Rate Saver cover.
  • Choice of Waiting Period - With Rate Saver Cover you can choose a waiting period of 14, 28, 60 or 90 days for Sickness or Injury claims. There is a fixed 28 day waiting period for our Time Saver Cover. Please be aware that you will receive your payout after your claim is approved and your waiting period has finished. Payouts are one month in arrears.
  • Enjoy 12 months for the price of 11 when you choose to pay your premiums annually.
  • 30 day money back guarantee.
  • Straightforward claims process - an experienced Claims Manager will make the process as stress free as possible if you need to make a claim.

Optional Cover


  • Involuntary Unemployment Cover – Insure up to 85% of your income up to $3,000 per month (for a max. of 3 months) if you find yourself involuntarily unemployed due to a redundancy or if your business becomes insolvent.
  • Permanent Disability Cover – add up to $500,000 cover in case 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.
  • 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.
  • Family discounts – Add another adult to your policy and receive a 5% joint policy discount.

Exclusions & Restrictions


  • Mental health disorders, normal/uncomplicated pregnancy and claims that arise from self-harm are not covered. Our Time Saver Cover excludes pre-existing medical conditions.
  • Waiting period for cancer, stroke or heart attacks – 6 months after your policy starts.
  • Waiting Period for Involuntary Unemployment Cover – You need to have held Involuntary Unemployment Cover for 6 months before you can make a claim. After this, you can make a claim if you are made involuntarily redundant and are out of work for longer than 28 days.
  • Waiting Period for Sickness and Injury Cover – You can choose a waiting period of 14, 28, 60 or 90 days under the Rate Saver option. The waiting period under the Time Saver option is 28 days.
  • 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

    Here you can find answers to the most common questions we’re asked about our Income Protection.

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

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

      Rate Saver is available for those who are happy to answer some health and lifestyle questions in return for more great features, including a higher cover amount, shorter Waiting Periods and longer Benefit Periods.

      Time Saver  is popular for those who want a fast and easy application process without the need to answer health and lifestyle questions up front. This greatly reduces the time required to take out the insurance. Instead, we’ll gather this information at the time of a claim. Conditions and exclusions apply including Pre-Existing Medical Conditions and Dangerous Occupations and Pastimes. See the Product Disclosure Statement for full details of what’s not covered.

    • 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 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 proportionally.

      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 payout period runs out or you’re able to return to work. For Rate Saver, you can choose a waiting period of 14, 28, 60 or 90 days for Sickness or Injury claims. For our Time Saver Cover there is a fixed 28 day waiting period.

    • For how long will I get payouts?

      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 payout period runs out or you’re able to return to work. 

      Benefit payments will continue until the payout period you’ve chosen runs out, or you’re able to return to work. With Rate Saver, you can choose a payout period of 6 months, 12 months, 24 months or 5 years. Time Saver cover offers benefit payout periods of 6, 12 & 24 months only.


    • What’s not covered?

      As with all insurance policies, there are some things that are excluded. Both Rate Saver and Time Saver exclude:

      • Mental health disorders, including anxiety disorders, depression and stress, disorders related to fatigue, drug or alcohol abuse.
      • Disorders related to fatigue.
      • Drug and alcohol related Sickness or Injury.
      • Cancer, stroke or heart attack in the first six months after your cover starts.
      • Normal and uncomplicated pregnancy.
      • War and terrorism.
      • 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 may also apply other specific exclusions to your policy. These will be agreed with you when you take out your policy.

       

      Under the Time Saver Option, there are additional exclusions for sickness or injuries caused by:

      • A known or pre-existing medical condition.
      • Aviation: If your Sickness or Injury is related to being involved in any form of aviation apart from being a paying passenger on a commercial flight.
      • A dangerous occupation 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.
      • For more details about what isn’t covered, see the Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG).

    • What happens if I leave information out when I apply?

      You must give us the information we request when you apply for Income Protection, 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 Involuntary 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 insurance, 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 Policy 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, 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?

      If you think there will be a problem with paying your premiums because your budget has run over that month or you're unsure you'll have the money, please give us a call on 1300 880 750 at least 3 business days before your payment is due and we can help you with an alternative payment arrangement.

    • 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? Get a quote and apply online or call 13 77 87 today.

  • How does it work?

    Rate Saver provides a payout of up to $10,000 per month if sickness or injury leaves you out of action. Time Saver covers up to $7,500 per month. 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 do apply. They include mental illnesses or disorders, alcohol-related illness or injuries, and injuries caused by an intentional self-inflicted act or an act of war. The complete list is found in the Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG).

    If you want to save time by not answering questions about your health and lifestyle at the time of your application, Time Saver may be an option for you.

    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 our 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 apply over the phone.

    If you want to save time by not answering questions about your health and lifestyle at the time of your application, Time Saver may be an option for you.

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

  • How much can I get?

    Sickness and Injury Cover under the Rate Saver option insures up to 85% of your income, with a maximum payout of $10,000 per month and you can choose a benefit payout period of 6, 12, 24 months or 5 years.

    Sickness and Injury Cover under the Time Saver option insures up to 85% of your income, with a maximum payout of $7,500 per month and you can choose a benefit payout period of 6, 12 or 24 months.

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

Would you like to receive detailed information about Income Protection?

Request an information package today and have it delivered to your home.

Not sure what you need?

Compare our Income Protection Plans.

Learn more

Financial security for your family and loved ones

Get a quote

What is Income Protection?

Learn more
Income Insurance

Income Protection in a nutshell

Learn more