How does it work?
You'll receive a Monthly Benefit for each month of your benefit period while you're Totally or Partially Disabled.
We offer two types of insurance. Your financial adviser will help you decide which is the most appropriate for you.
Insurance types
- Income Assure: provides our standard level of insurance.
- Income Assure+: provides our highest level of insurance.
Cover amounts
A Monthly Benefit for each month you're Totally Disabled or Partially Disabled between $1,500 to $30,000 (including Super Guarantee Benefit and the Booster Option, which depends on your income).
Waiting and benefit periods
1. Choice of Waiting Period
Income Assure+
|
Income Assure
|
14 days
|
30 days1
|
90 days1
|
1 year
|
2 years
|
There is a Waiting Period before your benefit is paid.
A shorter waiting Period manes your benefit will be paid sooner.
Your premiums will cost more for shorter Waiting Periods.
2. Choice of benefit period
Income Assure+
|
Income Assure
|
2 years1
|
5 years1
|
Up to age 65
|
Up to age 70
|
NA
|
Your benefit period is the maximum period you'll receive your monthly benefit for.
A longer benefit period means your benefit can be paid for a longer time period.
You premiums will cost more for longer benefit periods.
1. for people in certain hazardous occupations:
- the Waiting Periods available are 30 days and 90 days only, and
- The Benefit Periods available are 2 years and 5 years only.
Premium options
You can choose to pay your premiums as:
- Stepped – as you get older, your insurance premium will vary each year, and your benefits will remain the same
- Level – your insurance premium does not go up by age-related increases, and your benefits will remain the same
Regardless of whether you choose stepped or level premiums, when you renew your insurance each year, your premiums may vary due to rate increases, policy fee increases or if you add additional insurances to your policy.
Funding options
Income Protection insurance is available both inside and outside super.