What if I don't have income protection insurance?

Income insurance is something that all of us working Australians should think about. If you have financial commitments or a family to support, it’s pretty much essential.

Our income protection insurance is a safety net to help you meet your existing financial obligations as well as new ones that might crop up, as a result of illness or injury. It’s all about minimising risk and helping you get back on track and earning again.

What if I don’t have insurance?

Unfortunately, some people leave it too late to think about income insurance.


When illness, injury, or redundancy hit, it can be a big shock – emotionally and financially. 

If this happens to you it’s important to think clearly and act quickly. This means making tough decisions about how the loss of this income stream will impact on your life and the lives of your family members.

If you find yourself in this position, try these tips:

Saving on your bills

This is generally top of the list. Regular expenses like electricity, gas, water, internet, and rates are inevitable. Take a look at what your last few bills have cost you and think about where you can make savings. Could you downgrade usage in some areas? For example, can you make use of free internet or Wi-Fi and change your home plan? Or can you connect it to your phone package to make a saving?

Maximising your government entitlements

Even though you’re not insured, it is possible to receive some sort of financial assistance. Various government agencies offer aid to people who have fallen on hard times and/or have acquired a disability through injury or illness. Check all avenues, including the Department of Human Services and the Family Assistance website.

Making a budget

By allowing for a set expenditure each week and cutting down on impulse buys and luxuries (like takeaway dinners), significant savings can be made. What might seem to be harsh changes to your lifestyle can help you to survive without a steady income more for little bit longer.

If you would rather avoid the stress of cutting your costs and potentially losing assets, you can apply for income protection right away, or get an income insurance quote