Income Protection Insurance
Don’t hide from life’s unexpected turns, be prepared for them. Income Protection helps you pay your bills and support your family if you're unable to work due to illness or injury, so you can focus on your recovery.
Don’t hide from life’s unexpected turns, be prepared for them. Income Protection helps you pay your bills and support your family if you're unable to work due to illness or injury, so you can focus on your recovery.
Injury and illness can be touchy topics. Let’s talk about how you can be prepared for challenging times. If you're unable to work due to serious illness or injury, Income Protection Insurance can provide a monthly benefit payment.
Our policy offers up to 75% of your monthly income, or a maximum of $10,000 per month. Pre-existing conditions may be covered, and you can choose from flexible waiting and benefits periods to get the right coverage for your needs. So that if the unexpected happens you can stay on top of debt and focus on getting better.
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.
Family discounts
Add another adult to your policy and the youngest person will receive a 5% discount.
Lower rates
For non-smokers for new applications.
Affordable cover
For as little as $7.45 per week.
*Based on a 35-year-old male, non-smoker, blue collar occupation on standard rates, with a $3,750 benefit amount, 6-month Benefit Period and 90 day Claim Waiting Period when paying annually (total annual premium of $387.50). Premiums depend on cover selections, benefit period, Claim Waiting Period, occupation lifestyle and health at application.
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.
The following things are not covered under Insuranceline Income Protection:
Decide how much cover you need. See our FAQs below for some things to consider when working out the amount you need, or try our Income Protection Calculator
Get an online quick quote by answering some simple income, occupation, health, and lifestyle questions.
Answer some additional questions about your income, occupation, health & lifestyle and view your final quote.
Once you’re happy with your quote, you can pay online and get your policy straight away.
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.
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.
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Explore our Income Protection Insurance articles to understand how our cover can give you options, if working’s not an option.
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**Bonus 10% more cover is calculated on the fifth anniversary from the Policy Commencement Date. Each adult life insured will have an extra 10% of the average Funeral Insurance Cover amount held during the previous five years added to their Funeral Insurance benefit. Terms and conditions apply. Refer to the PDS for more information.
#Claims paid figures relate to all Insuranceline life insurance policies in the 2021 financial reporting year (1 April2021 to 31 March 2022). All claims on Insuranceline policies are assessed against the relevant policy terms and conditions. These terms and conditions, as well an explanation of the claims process, can be found in the applicable Product Disclosure Statement. Claims are administered and settled by the insurer, TAL Life Limited.
***Insuranceline is the longest standing provider of Funeral Insurance in Australia, based on: Strategic Insight, Actuaries & Researchers. Funeral Insurance means a policy with periodic premium payments that provides a lump sum to help pay for funeral and associated expenses when you die and excludes pre-paid Funeral Plans and Funeral Bonds.
The information provided on this website is general advice only which means it does not take into account your individual needs, objectives or financial situation. For this reason, you should consider whether it is appropriate for you, and before you decide to buy or to continue to hold an insurance product, you must read the relevant Combined Product Disclosure Statement (PDS) and the Financial Services Guide (FSG). The PDS/FSG contains important information which will help you understand the product, including what's covered and what's not covered and to decide whether it is appropriate for you. The Target Market Determination (TMD) for the relevant product, where applicable, is also available.
If you are considering cancelling a policy you already hold in order to replace it with a new policy, make sure you read the terms and conditions of both policies before you make a decision. The cover terms may be different, you may lose benefits accrued under your existing policy, and waiting periods may apply to the new policy. Changes in your personal circumstances (such as your age, health, and employment) that have occurred since your existing policy was originally taken out may also affect your new policy. As your application for a new policy may not be accepted, and some policies may be unable to be reinstated after they have been cancelled, you should consider waiting until your new policy is confirmed before you cancel any existing cover.
Promoted by Insuranceline, a trading name of TAL Direct Pty Limited (of Level 16, 363 George Street, Sydney NSW 2000) ABN 39 084 666 017 AFSL 243260. TAL Life Limited ABN 70 050 109 450 AFSL 237848 issues the life insurance benefits. St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 issues the Involuntary Unemployment Cover.
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^Offer available to Insuranceline customers who complete an application for an Insuranceline branded and distributed Life Insurance, Income Protection or Funeral Insurance policy between 1 October 2023 and 31 March 2024 (inclusive) and are issued with a policy with a commencement date prior to 00.01AM (AEST) 1st of May 2024. To be eligible policy holders must hold the policy for 4 consecutive months and pay 4 months’ premiums in full. One Gift per customer. View full terms and conditions.