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Finder Awards 2020 Best Income Protection

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This policy offers competitive pricing and features a maximum monthly payout of $25,000, and benefits up until age 65.

Other benefits cover rehab, spousal support and nursing care.

Finalists:

Methodology: Best Income Protection

Here's how our expert analysts assessed the Best Income Protection category to pick the 2020 winner.

Selection and scoring

Quotes were obtained for a $500,000 policy for customers with the following profiles:

AgeGenderSmokerOccupation
50FemaleTRUEAccountant
40FemaleFALSEAccountant
50MaleTRUEAccountant
60MaleFALSEAccountant
60FemaleFALSEAccountant
30FemaleTRUEAccountant
60FemaleTRUEAccountant
40MaleTRUEAccountant
40FemaleTRUEAccountant
50MaleFALSEAccountant
60MaleTRUEAccountant
30MaleFALSEAccountant
30MaleTRUEAccountant
30FemaleFALSEAccountant
40MaleFALSEAccountant
50FemaleFALSEAccountant
30MaleFALSECarpenter
30FemaleTRUECarpenter
40FemaleTRUECarpenter
50MaleTRUECarpenter
60MaleFALSECarpenter
60FemaleFALSECarpenter
30MaleTRUECarpenter
30FemaleFALSECarpenter
40MaleFALSECarpenter
40MaleTRUECarpenter
40FemaleFALSECarpenter
50MaleFALSECarpenter
50FemaleFALSECarpenter
50FemaleTRUECarpenter
60MaleTRUECarpenter
60FemaleTRUECarpenter

Features were assessed as follows:

  • Max Monthly Benefit Score 25%
  • Max % of Income Covered Score 15%
  • Max Entry Age 10%
  • Benefit Period Options 5%
  • Max Benefit Period 10%
  • Waiting Period Options 5%
  • Minimum Waiting Period 10%
  • Interim Cover Offered 5%
  • Redundancy Cover Offered 5%
  • Death 5%
  • Total/Permanent Disability Cover 5%

Overall score was calculated as follows:

  • Smoker Quote Score 10%
  • Non Smoker Quote Score 20%
  • Features Score 70%

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