Aspect made its start with accident and health insurance before venturing into income protection. With extensive experience in the insurance industry Aspect offers its customer reliable cover that they can depend on.
There are several features that set Aspect apart from the crowd including the ability to cover up to 85% of your salary, flexible benefit and waiting periods and an entry age all the way up to 70.
| Maximum monthly benefit amount | $42,000 (Up to 85% of your income) |
|---|---|
| Age of entry | 18–70 |
| How do I apply? | Online |
Aspect is a new, specialist insurance company that was founded in 2016 by one of Australia's leading accident and health specialists. The business's three core functions are underwriting, broking and consulting.
Aspect underwrites its own life policies as a designated coverholder of Lloyd's of London. Its policies include accidental death, total and permanent disability, income protection and trauma.
There are a few features that help Aspect's income protection policy stand out from the crowd. These include:
You have a lot of options when you sign up for income protection through Aspect, making this one of the more flexible policies out there. Here are some ways you can customise your policy:
You will be eligible for benefits if you become partially or totally disabled, in a temporary capacity. Here is how it breaks down:
| Type of temporary disability | Definition | Benefit |
|---|---|---|
| Total disablement | Disablement that entirely prevents the insured person from attending to their business or occupation. | The benefit amount listed in your policy. |
| Partial disablement | Disablement that prevents the insured person from attending to a substantial part of their business or occupation. | The benefit amount listed in your policy minus any income you receive working in a reduced capacity OR 25% of the benefit amount listed in your policy if you decline to work in a reduced capacity. |
The cost of cover will depend on a few factors including the amount you cover, your lifestyle factors and any additional options you choose. One advantage of Aspect Income Protection is how it will break down your premium during the quote process so you'll know exactly how much you're paying for each benefit and decide what is worth it for you.
Income protection can be a valuable form of cover for Australians when its features are fully understood.
Find out what is and isn't covered by AAMI Income Protection and how to apply.
Income protection for couples ensures your partner isn't hurt financially if you are temporarily unable to work due to illness or injury.
Although income protection and personal accident cover both provide you with income replacement, there are key differences. Read on and compare.
Income protection provides you with income replacement for sickness and illness but not for pregnancy. However, it does offer features to help you out during pregnancy.
Salary continuance and income protection both serve to replace income in the event of injuries and illness. However, there are some key differences to know about.
Life insurance and income protection serve two different purposes but can both offer valuable cover alone and when combined.
What are the key differences between income protection and WorkCover? If you already have WorkCover why would you still consider income protection?
Income protection insurance are generally tax-deductible, so read on to find out when premiums are tax-deductible and how much you can claim.
Find out how much your income protection insurance policy will pay out in the event of a claim. Receive quotes for income protection and apply securely.