Income Protection Insurance & Cover for Sports Injuries

Income Protection is designed to replace your income if you are unable to work due to any illness or injury, including sports injuries. In some instances special provisions are made to the policy to reflect an increased probability of claim; for example a loading, exclusion or extended waiting period.

If you have suffered an injury whilst playing sport; depending on the nature of the injury, how recently it occurred, your degree of recovery and your continued participation, exclusion might be applied to the policy if there is reasonable potential for the same injury to reoccur. Exclusion means you will not be able to claim on the policy in future for an injury directly or indirectly affecting the excluded area.

Alternatively an extended waiting period sometimes applies instead of exclusion. For example if you have chosen a 30 day waiting period, the insurer may issue your policy on the basis that you would wait 90 days for injuries occurring whilst playing a particular sport, or injuries that involve the area of your body previously affected.

A loading is also sometimes used to reflect an increased risk of claim. This could either be a percentage (say 25%) or a dollar amount per thousand sum insured (say $2.00 for every thousand of cover you wish to insure).

Not all applicants that play sport or have suffered a sporting injury will be offered special acceptance terms. If your sports injury was very minor and/or occurred a long time ago with no re occurrence of symptoms or treatment for a considerable period of time; often there is no restriction to the insurance benefit at all.

Lifebroker can assist you in obtaining pre-assessments from several insurers before you proceed with an application, to estimate the most likely outcome.

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