Do I need income protection insurance?

The easiest way to work out whether you need income protection insurance, is to ask the following question: If you were injured or became sick and couldn’t earn an income, would you be able to pay the bills if you had a long recovery?

When you’re in your 20s or 30s and everything is going well with your career and in your social life, it’s easy to believe that you’re invincible. Or if you’re approaching middle-age, building your assets with a partner by your side, you might think that you have the means to weather any financial storm. Whatever stage of life you’re in, your income is one of your most valuable assets and the key to maintaining the kind of lifestyle you enjoy. But that’s just the thing – we can’t predict what the future holds.

With Real Income Protection Insurance if you were unable to work because of an injury or sickness, you could be covered for up to 70% of your pre-tax income to help relieve any financial pressure while you get back on your feet – up to $15,000 per month!

The monthly payments can be used to pay bills and everyday living expenses, even your mortgage payments, cover schooling and education costs for your kids, pay for your ongoing treatment, or whatever else you want to use the money for so you can focus on your health.

Any Australian resident aged between 18 and 60 who is in paid employment can apply for Real Income Protection Insurance – even if you work part-time or if you are self-employed. You just need to be working at least 15 hours a week.

With a Real Income Protection Insurance policy in place, you will enjoy award-winning customer service and the peace of mind that comes with knowing that your income is protected, if you’re:

  • unable to perform the usual duties of the regular occupation you earn your source of income from; and
  • receiving regular care from a medical practitioner in relation to the injury or sickness you are claiming for; and
  • unable to earn an income and suffering a loss of income; and
  • unable to work for longer than your chosen waiting period; and
  • not working in your regular occupation or earning money from any other source.

Applying for Real Income Protection Insurance is simple - there are no medical, blood test or lengthy forms to fill out to apply. If you need to make a claim, we’ll assign you your own Australian-based claims specialist who will be with you every step of the way to help make sure your claim is as stress free as possible.

Examples of injuries and sickness you may be able to claim for loss of income, depending on your occupation, include:

Broken arm or leg
Hearing loss
Brain injury
Nerve damage
Loss of vision
Back injury
Arthritis or rheumatoid arthritis
Parkinson’s disease
Heart attack
Chronic obstructive pulmonary disease
Mental illness

Exclusions terms and conditions apply. For further details please read the PDS.

Ready to protect your income?

Why is income protection insurance important?

Simply put, income protection insurance provides a financial safety net if you are unable to work due to an injury or sickness. It can help cover everyday expenses as well as help you pay any debts while maintaining the lifestyle you enjoy.

While most Australians are covered for essential medical services such as public hospital visits, doctor visits, and some prescription medications through Medicare, income protection insurance can provide a level of financial protection.

If you rely on your income to maintain your standard of living, income protection insurance is important to consider.

Who needs Income Protection Insurance?

If you or your loved ones couldn’t manage without your income, then it might be worth considering income protection insurance – no matter what stage of life you’re at.

  • Single


    As a single person with a mortgage/or rent and other financial commitments, income protection insurance can help cover living expenses such as rent, utilities and food if you are unable to work due to an injury or sickness. While you’re recovering, income protection insurance can also help pay for any medical expenses that are not covered by Medicare as well as help you continue to pay loans.

  • Couple


    For couples, income protection insurance can help with loss of income, assisting towards any added pressures of having to pay bills and meet other financial commitments, while one of you can’t work. As well as covering everyday living expenses and ongoing medical costs, income protection insurance can help you maintain the lifestyle you are both used to.

  • Family


    When raising a family, income protection insurance can be used to help cover everyday living expenses if a parent is unable to work due to an injury or sickness. As well as covering ongoing medical expenses, income protection insurance can help cover essential schooling costs for your children, and even help towards having enough money to live comfortably in retirement.

Understanding Income Protection Insurance

Everyone’s individual situation differs. Anyone who is employed, either full-time or part-time should consider whether income protection insurance would assist to help cover bills and everyday expenses if they were unable to work due to an injury or sickness. Read more

As well as helping with everyday living expenses, mortgage or credit card repayments, there can be additional benefits, such as you can be reimbursed for some of your rehabilitation costs through your income protection insurance or modify your house to make it more accommodating for your new circumstances, and some policies may even pay your loved ones a final expenses benefit to help them cover your funeral expenses if the worst happens. Read more

While income protection insurance can help you pay your bills if you are unable to work due to injury or sickness, it doesn’t cover everything, and you will have to meet certain criteria as to why you are unable to work. Make sure you read the Product Disclosure Statement to understand the product when you apply.

Being able to work and provide for your family is important.

Ready to protect your income?

Call us 1300 385 792
Request a Quick Quote

Exclusions applicable include but are not limited to, no cover for injury or sickness caused through an intentional or self-inflicted act, war or riot, engaging in criminal acts or associated with pregnancy or elective surgery. For further details please read the PDS.