Income Protection

To obtain a quote for income protection insurance please complete the following form. If you are unsure of features please click on an i on the form for further information.

If you would like quotes on a range of covers whilst completing only a single form, please go to our comprehensive quote page.

We will then prepare a comprehensive report for you on the offerings from different companies, features, benefits and premiums. We will provide you with exact policy names.

Please submit only genuine details and email address, otherwise quotes will not be produced

Personal Details

Salutation      
First Name Gender  
Surname  Date of Birth
Occupation     If other:
Phone   Smoker Status  
Email (select 'Smoker' if you smoked in the last 12 months)
Address  
Suburb State  Postcode

 

Income Protection

Information

Annual Income
Type of Policy
Waiting Period
14 days
30 days
60 days

90 days
180 days
720 days
Benefit Period
2 years
5 years
Age 60

Age 65

 

Additional

Referred
Comments
Reset Submit

 

Note:Insurance can only be provided to permanent residents of Australia, or those people in the application process for permanent residency.

Privacy: Please note you are required to submit personal details in order to obtain a quote. We operate under the National Privacy Principles; your information is used only for the purpose of generating quotes. We never pass your details onto third parties; our full privacy policy is here.

Income Protection Quotes

Income protection is designed to replace your income if you are unable to work due to sickness or injury. It will provide cover for 75% of your income. Income protection can be used as mortgage protection insurance, and is sometimes called salary continuance when held through superannuation.

Income Protection

The biggest variable with income protection is the waiting period; with the table below we have assumed a benefit of $3,500 per month to age 65. We have run quotes with two waiting periods, 30 and 90 days. Please note that these are before tax premiums, and income protection premiums are tax deductible (non-smoker rates).

Age Waiting Period Male Female
    per month per month
30 30 Day $55 $70
30 90 Day $40 $50
40 30 Day $85 $120
40 90 Day $60 $85
50 30 Day $175 $260
50 90 Day $120 $170

Type of Policy

Agreed Value Policy

With an agreed-value policy, you prove your income up front and insure to receive a set amount. The advantage is that you know what you will receive, regardless of changes in your income. The disadvantage is that these policies cost more (approx 20%)

Self employed people with variable income should take an agreed value policy.

Indemnity Policy

With an indemnity policy, you are insured for what you say you earn, but if you make a claim you have to verify your income. If your income has reduced since you applied for cover, your claim will be paid on the reduced amount.

Waiting Period

The waiting period, with income protection, determines how long you are unable to work before the policy begins paying your income. For example, with a 30 day waiting period you would begin receiving payments after 31 days.

Income protection should be used to protect against long term illness, therefore try and select a waiting period that matches your financial situation. It is important to note that the shorter the waiting period the higher the premium.

Benefit Period

With income protection this is how long the claim will be paid if you are unable to work. For example, with a benefit period to age 65, if you were unable to ever work again due to sickness or injury the policy would continue to pay you right up to this age. Ideally a long benefit period is chosen.

Annual Income

Please enter your gross annual income before tax including income from all sources.


Lifebroker is an Authorised Representative of National Financial Solutions Pty Ltd, holder of AFSL 284182