Income Protection Insurance Finder™

Compare 15+ brands in less than 2 minutes. Cover up to 85% of your income.

Welcome to Income Protection Insurance Finder™. You can compare income protection policies from 15 Australian brands to find cover that suits you, for the right price. Simply fill out your details in the form above to get started.

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Receive an income protection quote from these direct brands

Product details Maximum cover Maximum Entry Age Cooling-off
Income Protection
Income Protection
Cover up to 85% of your income up to $10,000 per month if you can't work due to sickness or injury. Cover for over 1,000 jobs and full-time, part-time and self-employed. $10,000 60 30 Get quoteMore info
NobleOak Income Protection
NobleOak Income Protection
Receive up to 75% of your income each month to a maximum of $25,000 if you can't work due to serious illness or injury. $25,000 59 30 Get quoteMore info
Income Protection
Income Protection
Receive up to 75% of you income (up to $10,000 per month) of your income if you're unable to work due to serious illness or injury. $10,000 59 21 Get quoteMore info
Insuranceline Income Protection
Insuranceline Income Protection
Cover up to 85% of your monthly income (to a maximum of $10,000). $10,000 60 30 Get quoteMore info
Ezicover Income Protection
Ezicover Income Protection
Cover up to $12,000 income replacement when unable to work in any occupation due to sickness or injury. First month of cover is free. $12,000 60 30 Get quoteMore info

Not sure how income protection works?

 What is income protection?

Income protection is designed to replace your income (in the short term) if you're unable to work due to a:
  • Serious illness
  • Injury
  • Redundancy (depending on the policy)

 What type of benefit is provided?

Most policies in Australia will provide you with a monthly payment up to 75% (with some up to 85%) of your total income to keep you afloat during recovery. Your income can include any commissions, bonuses or fringe benefits that you are eligible to receive.

 What does the monthly benefit cover?

The monthly benefit can cover your everyday expenses as well as any long term debt repayments. These expenses can include:
  • Food
  • Petrol
  • Education fees
  • Credit card debt
  • Mortgage payments
  • Everyday bills

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Learn the basics of income protection in 3 minutes

Looking for a more specific type of cover?

The income protection comparison

The table below shows just some of the income protection policies available via the quote engine.

PolicyMaximum monthly benefitMonthly Premium*
ClearView Income Protection$40,000$84.22
TAL Accelerated Income Protection$30,000$98.18
Zurich Futurewise Income Protection$30,000$92.27
Comminsure Income Protection$30,000$92.39
AMP Elevate Income Protection$30,000$95.84

 *Price above is monthly premium for $7,000 income protection benefit (paid monthly) for 35 year old non-smoking male office worker. Quotes are for April 2017 and are subject to change.

 Is income protection the same as life insurance?


Income protection and life insurance are not the same products, as both forms of insurance are designed to serve different cover needs.

What are the different types of income insurance in Australia?

Cover facts

Income Protection

  • Policies that are issued by life insurance companies.
  • Will provide coverage for up to 75% of your income though some policies will cover up to 80%.
  • Policy cannot be cancelled by the insurer as long as the policyholder continues to pay their premiums.
  • Provider is unable to adjust terms of policy once it has been taken out.
  • Offers more comprehensive range of benefits and features to other types of income cover.

Group Salary Continuance Insurance

  • Policies usually taken out by employers on behalf of their employees.
  • Offered to members of group super funds.
  • Offers coverage of up to 75% of employees income.
  • Cover provided is usually quite basic. Will not take into consideration unique features relevant to the policyholder.

Personal Accident Insurance

  • Simplified and more affordable form of cover for accidental injury, disability and death of insured person.
  • Can provide either a lump-sum benefit or ongoing payment if you suffer a serious accident/disability and are unable to work.
  • Ongoing benefit payment is generally up to 75% of your income from 2 years to age 65.
  • Some policies will provide additional benefits for rehabilitation expenses

Likelihood of actually needing income protection over working life?

  • Over 60% of Australians will be disabled for a period over one month during their working life with 25% being disabled for longer than three months²
  • Over 2.6 million Australians under the age of 65 have suffered a physical disability³
  • Yes - Premium payments are generally tax deductible
  • An ongoing benefit can be paid until age 65

How do I actually compare policies?

 Understand your needs  Compare benefits  Check policy structure

Is your income fluctuating or fixed?


You'll want to compare agreed value policies. This means an income level that's covered is typically agreed to at the time of application.


You'll want to consider an indemnity value policy.

How long can you go without income?

Not very long

In this case you should look at policies with a shorter waiting period. A shorter waiting period usually means a higher premium.

I have some sick leave to pull me through

If you have some savings or sick days left you might opt for a longer waiting period. A longer waiting period will mean a lower premium in most cases.

How long do you want be covered for?

For as long as possible

You should look at getting the maximum benefit period on a policy. This will be the most expensive option.

Just in the short-term

If you have additional savings or a support network that can help you cover a long-term injuries and illness then a shorter benefit period may be suitable.

 Understand your needs  Compare benefits  Check policy structure

Compare the following policy benefits

Protecting your income is a serious business and you want to make sure the policy you are paying for is going to protect you in the way you need. Assess the following benefits as you compare policies:

  • Total disablement benefit. You are paid the monthly benefit if you meet your policies definition of total disablement. You will be paid your benefit at the end of the waiting period until the end of the benefit period.
  • Partial disability benefit. You will be paid the monthly partial disability benefit if you meet the definition of partial disability.
  • Benefit indexation. Each year your insured monthly benefit will increase to keep pace with inflation.
  • Premium waiver. You will not have to pay your premium if you are eligible to receive the monthly benefit.
  • Rehabilitation expenses cover. Your insurer will pay for the cost of you to participate in an approved rehabilitation course if necessary for your recovery.
  • Recurrent benefit. Your insurer will pay a benefit without a waiting period if after a specified period of time at work (usually about 12 months) you suffer the same or a related disability from a previous claim.
  • Death benefit. You will be paid a lump sum benefit of a multiple of your insured monthly benefit if you pass away before the policy expires.
  • Needlestick injury benefit. Benefit paid if you become infected with HIV, AIDS, Hepatitis A or Hepatitis C as a result of a splash or needlestick injury that has occurred while performing the normal duties of your occupation. This benefit is normally only offered to medical practitioners.
  • Cosmetic or elective surgery benefit. Total Disablement benefit paid if you become totally disabled as a result of cosmetic surgery, other elective surgery or as a result of surgery to transplant an organ from your body into the body of another person.
  • Specified injury benefit. You will be paid the insured monthly benefit in advance without a waiting period if you suffer an injury listed in your policy.
  • Bed confinement benefit. You will be paid a portion of your monthly benefit if you are confined to a bed and require the attendance of a full-time nurse.
  • Accommodation benefit. You will be reimbursed for the accommodation costs of an immediate family member if you become totally disabled and they travel more than 250km to see you.
  • Family care benefit. Benefit will be paid if at the end of the waiting period a family members income is reduced as a result of looking after you while totally disabled.
  • Overseas assistance benefit. Cover the costs of transporting the you back to Australia if you are travelling overseas and become totally disabled for more than a specified period of time (usually 3 months).
  • Worldwide protection. You will be covered 24 hours a day, 7 days a week anywhere in the world.
  • Day 1 accident benefit. In the event of an accident you can be paid the benefit of your income protection policy from day 1. Watch out for policies that will require you to be injured for a certain period before backdating the benefit.
  • Claim escalation benefit. If your claim has been paid for more than a specified period, your benefit payment will be increased by the CPI increase.
  • Lump sum payment. Receive a lump-sum payment as oppose to a monthly payment if you satisfy the companies definition of total disablement.
  • Child care benefit. Receive a benefit payment if you are unable to work and your child is dependent on you for everyday needs.
  • Retirement optimiser. Cover a portion of your monthly income so that your superannuation fund can continue to grow while you are under an income protection claim.
  • Business expenses. Cover fixed expenses of your business if you are a self-employed worker.
  • Increasing claims option. This is a paid option that increases the monthly benefit you receive over time by an agreed percentage (often 5% a year) or in line with annual CPI (inflation) increases. The Increasing Claims option is suited to those whose Income Protection policy pays a monthly benefit of longer than two years and who are not sure if the amount they would receive in the event of a loss of income would be sufficient for their needs after future inflation has reduced its value. Naturally, a benefit such as the Increasing Claims option has the potential to cost an insurer more money in the long run, so the cost is passed on to the insured in the form of a higher initial premium. However some Australian life insurance companies have recently started offering the Increasing Claims option as an inclusion in their Income Protection policies.

 Understand your income needs  Compare benefits  Check policy structure

Check the structure of your policy

Make sure you ask your insurer a few key questions when comparing policies, such as:

Checklist before you buy

As you can see, there is a lot to consider when taking out income protection insurance, and following are a few simple tips to help you navigate your options:

  • Ask for all the details. Don't be afraid to ask question after question of your insurer until you're sure you've got all the information. This means knowing exactly what is and isn't covered, how much your benefit amount will be, and what your premiums will be now and into the future.
  • Keep up with inflation. You can look for a policy which has index linked premiums and benefits, so that you know that your benefit amount will always keep up with inflation costs.
  • Look for a non-cancellable policy. A non-cancellable policy means that your insurer won't reassess your health or circumstances each time you renew your policy, so you won't be refused cover or have a premium loading added. You can also take out a policy with guaranteed future insurability so that you can increase your level of cover without your application needing to go back to the underwriter.
  • The affects of other income. Be aware that offset clauses can allow your insurer to reduce your benefit payout if you are receiving income from another source, such as sick pay from an employer or Centrelink benefits.
  • Know the conditions of insurance through your super. When you take out income protection insurance through your super, the policy is between the trustee of the fund and the insurer. Therefore, you need to make sure that both the trustee and the insurer know who your nominated beneficiaries are so the benefits go where they are needed.
  • Make sure you're happy with the waiting period and benefit period. The waiting period is the time you have to wait before you receive your benefit payout after a successful claim. The waiting period you choose will depend on how much you have in savings, and how long you can survive financially on other benefits such as sick leave. The benefit period is the length of time you receive the benefit for, whether it is for two months, two years or until retirement.
  • Own occupation or any occupation. Make sure you know whether you will be expected to return to any job you are able to perform after an illness or injury, or if you can continue to receive a benefit until you are able to return to your own occupation.
  • Understand the terms and conditions. As boring and time consuming as it is to read the fine print of an insurance policy, you want to make sure you understand all of the terms, inclusions, exclusions and conditions of your policy, so that you know you have the coverage you want and need. You don't want to be paying premiums for a policy, only to find out at the time of a claim that you're not eligible for benefits.

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Guides to help you understand income protection

When will I qualify for a payment for Income Protection?

One of the most important steps of comparing policies is finding out when you will actually be covered. Providers will class disabilities as either partial or total and permanent. The exact definition of total disablement will vary among insurance providers but most will use the following characteristics to approve a benefit payment:

  • You suffer a serious accident or illness.
  • You are unable to work due to suffering a serious accident or illness.
  • You experience a decrease in income following a serious accident or illness.

This is where it can get this definition of "unable to work" or "disablement", life insurance companies then use these different definitions of disability;

Duties Based Disability

  • You are unable to perform one or more important duties in your role at work because you have suffered an illness or injury.
  • Such duties may include manual work, supervision, desk work, meeting with clients or presentations.

Income Based Disability

  • You have suffered a reduction in your income of 20% or greater because of an accident or illness.

Hours Based Disability

  • Means you are unable to perform the duties of your own occupation a certain number of hours per week (usually 10 hours) after suffering a serious accident or illness.

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How much will I be paid if I'm unable to work?

You are paid up to 75% of your total monthly income. Your total monthly income is based on either your income when you apply or your income when you make a claim.

A key factor that must be considered when taking out income cover that will determine how much you will be paid is whether to take out an agreed value or an indemnity value income protection policy.

Agreed value

  • You are insured for the amount of income you are earning at the time of application.

  • To apply you will need to provide financial documents to your insurer, but you won't need to produce this documentation again if you make a claim.
  • You will know what you will be paid regardless of your income at claim time.
  • Monthly benefit amount will then remain the same, regardless of fluctuations in your income over the policy period.

Who does Agreed Value suit?

This option is ideal if you are a self-employed worker or the nature of your work means that your income fluctuates frequently.

Indemnity value

  • Indemnity value will pay you for what you say you earn at the time you complete an application.
  • You will need to verify your income when you claim.
  • If your salary has decreased since you took out cover, your benefit will be reduced to reflect this.

Who does this Indemnity Value suit?

Indemnity value is generally a good option if you are not a self-employed worker or concerned about how your income may change in the future.

What is recognised as income by insurance companies?

  • Pre-tax remuneration paid by employer which includes salary, fees and fringe benefits of the previous financial year.
  • This will include superannuation contributions made by employer.
  • This will also include commissions and bonuses paid by employer.
  • Income generated due to the workers own exertion, less expenses that have been occurred through previous financial year.

Read the full guide to income protection for self employed workers.

In this case your income and in turn your benefit amount, are assessed at the time you make a claim. Therefore, when you make a claim you will also need to provide financial documents, so if you income has reduced since you applied for the policy, your benefit will also be reduced, however, if your income has increased, your benefit will too. An indemnity policy can also often be around 20% cheaper in premiums than an agreed value policy, and can be ideal if you are in a steady job, where you receive regular pay raises and b

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How is income protection different to WorkCover?


Workcover is a nationwide initiative where all employers pay the government a premium in case one of their employees is injured at work. The employer can then make a claim and WorkCover will payout compensation and other benefits – but only if the injury occurred at work.

WorkCover should only be viewed as a minimum insurance cover.

While all Australian employees are covered under WorkCover, that doesn't make income protection insurance obsolete. Workcover should only be viewed as a minimum insurance cover, as potential benefits are not always guaranteed as WorkCover covers. See the table below for how the two cover types are different;

Income Protection

  • Provides an ongoing benefit payment of 75% of the your income paid monthly if you suffer a serious illness or injury
  • Will cover injury and illness that occurs both at work and outside of the workplace
  • Provides additional benefit payments to cover rehabilitation expenses
  • You can choose for your benefit can be paid for 2 years, 5 years or to age 65


  • You are generally entitled to compensation if you suffer an injury, disease, illness or psychological injury through the course of your work
  • You may be entitled to compensation if through the course of your work, a pre-existing condition reoccurs
  • Workers Compensation provides cover for reasonable medical, surgical and hospital care for work related injuries
  • A lump sum payment may be provided for permanent impairments
  • Premiums are funded by employer
  • Benefit payments will usually last for a minimum of 13 weeks at 90% of the workers Annual Weekly Earnings (AWE). From 13 to 26 weeks this amount is reduced to 80% of the AWE
  • You may not receive payment benefits when you are first injured which can be when you need them the most to cover medical bills, mortgage repayments and other immediate expenses
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Some more questions you might have about income cover

Can I apply for cover if I am already ill or injured?

In the event of which you have become ill or injured and are unable to work and earn your income, you will not be able to obtain income protection insurance to cover you for the current situation. However, you can still apply for income protection insurance for future events. Since your health is taken into consideration when you apply for income protection insurance, you may find that your current illness or injury may become a pre-existing condition. This means that you may have to pay higher premiums for your coverage, although this can depend on the nature of your condition or the type and level of injury.

What is the difference between high risk and standard risk cover?

  • All insurance approvals and premiums are assessed based on your level of risk, and the higher your risk level, the more you have to pay in premiums, and in some cases the harder it can be to secure cover. Being classified as a standard risk means you have a low risk job, lifestyle and health factors, whereas high risk cover can be more expensive for people with riskier jobs and leisure activities.

What is the minimum working hours required to receive cover?

This is a condition set by each insurer, requiring that you work a certain number of hours each week to be eligible for cover.

Can I get Income Protection if I am 65?

  • Unfortunately the maximum application age for most income protection policies in Australia is 64 (age next birthday). It may still be worth speaking with an insurance consultant about other insurance options that would be worth considering for your situation.

Can I get Income Protection with immediate cover?

If you know what you are looking for in a policy and are keen to get cover in place straight away, you may wish to take out cover with a direct insurer. Cover can generally be put in place online or over the phone and on the same day provided you meet the providers entry requirements and no additional information is required.

Your Policy

What is a benefit period?

The maximum length of time your policy will pay your income if you are unable to work. Typical benefit periods are two years, five years or 'to age 65', and the longer the benefit period, the higher the premium.

How do income protection insurers define disability?

Each insurer will have their own specific definition, but in most cases you can be classified with a duties based disability where you are unable to perform the core tasks of your job, income based disability where your income is reduced because of you disability, or hours based disability where the hours you are able to work are reduced because of your disability.

Your Benefit

Can I get an Income Protection benefit for more than 75% of my current income?

In general, most income protection insurance providers will offer to cover your average salary of up to 75% at most. However, you may find other insurers that may offer additional cover in excess of up to 15%. It is important to note that the additional amount must be used as a superannuation contribution. This means, you will receive the 75% benefit amount and the remainder will be paid into your super fund. Therefore, it is unlikely that you will find insurers who offer to cover 100% of your income, as there should be an incentive for you to return to the workforce once you have recovered.

How much will I get?

Policies will usually pay out up to 75% of your regular gross income.

Am I covered for redundancy?

Income protection insurance generally doesn't provide cover for redundancy. There are a number of general insurance providers that do provide cover for redundancy in Australia.

When will I get paid?

Waiting periods (The time you must be unable to work before you start receiving payout income) range from 14 days to two years, the shorter the waiting period, the higher the premium. The cause of your sickness or injury does not need to be work-related.

What is a benefit period?

The maximum length of time your policy will pay your income if you are unable to work. Typical benefit periods are two years, five years or 'to age 65', and the longer the benefit period, the higher the premium.

Will Income Protection pay my salary during pregnancy?

No. Income protection will not provide any benefit payment during pregnancy. There are a number of insurers that will let you waive your premium during pregnancy.

Your Premium

Does my age affect the premium I have to pay?

Generally speaking, the older you are, the more likely you are to suffer illness, therefore the premium you pay will be higher. Smoking is also seen as an added level of risk and usually sees your premium rise.

What is the difference between stepped and level premiums?

A stepped premium is one which starts out as very affordable, and increases each year as you get older, while a level premium stays the same though out your policy, only increasing to keep in line with inflation.

What does 'insurable monthly earnings' mean?

  • The monthly income that you can insure under income protection insurance will consist of a number of different components and often these will vary between insurance providers. Your insurable monthly income is the earnings that you get every month from your primary occupation and by your own personal efforts. It is important to read through the PDS or check with your insurance provider if you have any doubts on which parts of your earnings are considered to be insurable. Your total remuneration package often include:
  • Salary
  • Wages
  • Regular commissions
  • Regular bonuses
  • Fringe benefits
  • Payments for overtime, and
  • Superannuation contributions

Insurable monthly income does not include:

  • All types of income that you will continue to earn even if you are unable to work
  • Other unearned income, such as dividends, interest, rental income, or proceeds from sale of assets
  • Income from your other occupations, other than your main occupation
  • Ongoing trailing commission or royalties

Will my occupation affect how much I have to pay for a policy?

Premiums can be based on the type of occupation the person has and the perceived level of risk. A manual or blue-collar worker such as a miner might be required to pay a higher premium compared to an office worker, who is considered less risky.


¹ AIHW (2008) Cancer in Australia: an overview 2008, Cancer series no. 46, Cat. no. CAN 42, Canberra

² Fabrizio, E (2007) Australia & NZ Disability Income Experience

³ AIHW (2008) Australia’s health 2008, Cat. no. AUS 99, Canberra

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4 Responses to Income Protection Insurance Finder™

  1. Default Gravatar
    Lorna | April 11, 2017

    If a person has been treated for cancer more than 5 years ago will this affect pay out.

    • Staff
      Zubair | April 12, 2017

      Hi Lorna,

      Thank you for your question. is a comparison and information service and we are not permitted to provide our users with personalised financial advice or product recommendations.

      For clarification on whether you are eligible to receive a full claim or not, please refer to your product disclosure statement or contact your insurer.

      All the best,

  2. Default Gravatar
    james | September 14, 2016

    I want to have my income protected in case of illness of family members (my parents) in the UK

    • Staff
      Maurice | September 14, 2016

      Hi James,

      Thanks for your question. Unfortunately income protection in Australia will only protects the income in the case of an injury or illness to the person who’s income is insured.

      I hope this helps,


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