What is Income Protection?

Have you ever thought about what would happen if you weren’t bringing home the same money you’re earning now? What if you were suddenly getting less – or nothing – for a long time?

Income protection insurance insures you against loss of earnings through injury, illness or redundancy. So it’s an excellent way to replace your lost pay packet and protect yourself and your dependents from temporary and long-term financial hardship.


How much does it pay?

Generally, income protection is a monthly benefit that pays around 75% - 85% of your income while you’re unable to work, and is based on your earnings prior to claim. In case you can’t return to work at all, an optional Permanent Disability Benefit can be added at a small additional cost.

Income protection insurance is usually tax deductible and designed to cover living costs. So even if you’re not earning your usual income, you can continue putting food on the table, paying the bills, and enjoying a quality standard of living.


Do you need Income Protection Insurance?

Very few families could get by without the main breadwinner’s salary or wage coming in.

Income protection insurance is essential if you are:
  • Keen to maintain your financial independence in the event of illness or injury
  • Paying off a mortgage
  • Supporting a family
  • Self-employed
  • A small business owner

 Insuranceline Income Protection at a glance:

  • We can pay up to 85% of your income, to $7,500 per month when you're out of action. Pre-existing medical conditions are excluded
  • We offer affordable, tax deductible premiums from just a dollar a day+
  • Once you return to work, your plan stays in place in case you ever need it again

Apply for income protection with Insuranceline, or get a quick income insurance quote to see where you stand.

+Premiums vary depending on personal circumstances, waiting periods, and generally increase with age and level of cover. Payouts are tax assessable.