Income Protection Insurance for White Collar Professionals


Should office workers consider income protection insurance?

While office workers are not exposed to the same level of risk in the workplace as other industries, income protection insurance still offers vital protection against injury or illness.

What cover does income protection insurance provide?

Income protection insurance provides an ongoing benefit payment (usually paid monthly in arrears) in the event that you are unable to work due to serious illness or injury. This benefit is usually 75% of the workers salary though some policies provide over 75% if the extra portion is contributed to superannuation.

What can the benefit be used for?

The benefit helps ensure that you do not experience financial hardship while forced to take time off work. It can be used for expenses such as:

  • Rehabilitation costs
  • Everyday living costs
  • Mortgage
  • Rent payments
  • Children's education fees

Compare income protection quotes from these direct brands

Name Product Short Description Maximum Monthly Benefit Maximum % of Income Covered Maximum Benefit Period Waiting Period
Protect your lifestyle with Virgin Income Protection and new eligible customers can earn 25,000 Velocity Points. Ends 31 Aug 2018. Min monthly premium and T&Cs apply.
5 years
14, 28, 60, or 90 days
Join Qantas Income Protection and earn up to 100,000 Qantas points. T&CS apply.
5 years
2, 4, 13 weeks or 2 years
Cover up to 75% (to a maximum of $25,000) of your monthly income with NobleOak Income Protection. Benefit period can be tailored to suit your needs.
2 years or to the age of 65
30 or 90 days
Cover up to 75% of your monthly income if you can’t work due to illness or injury, up to a maximum of $10,000 a month. Take out cover today and you could get a bonus $100 Gift Card.
5 years
30 or 90 days
Receive up to 75% of your income (up to $10,000 per month) if you're unable to work due to serious illness or injury.
5 years
30 or 90 days

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What are the risks of white collar jobs?

While the risk of both minor and major injuries at work are higher for construction worker than office workers, it does not mean that white collar work is risk-free. White collar workers are susceptible to chronic pain such as carpal tunnel syndrome, back and neck pains, and migraines. These little issues, when left unchecked, can build up and end up being debilitating. Common risks for white collar workers include:

These risks don't really worry me, do I still need income protection?

If the risk of working in an office don't seem significant enough to justify income protection then you should consider the fact that many injuries and illnesses can occur outside of the workforce. Without income protection, you'll need to fall back on either:

  • Savings
  • Family or friends
  • A loan

How much of my income can I get insured if I'm white collar worker?

This will depend on your individual job. Income protection can typically cover up to 75% of your regular income.

Sample of white collar incomes and how much is covered by income protection

Here's an example of the types of jobs and respective incomes based on a various white collar industries in Sydney.

PositionIndustryAnnual Salary75% of Annual Salary
Corporate Finance GraduateFinance$40,000$30,000
Senior Brand ManagerMarketing$120,000$90,000
Web DeveloperTechnology$70,000$52,500
Mail Room ClerkOffice Support$45,000$33,750

Source: 2016 Hudson 2016 Salary Guide

Can income protection cover high income white collar workers?

If you're an office worker in a high income position, the good news is that many brands can provide cover for high incomes. Maximum sums insured of $1Million and over are shown below:

ProviderInsurance TypeProduct NameMinimum CoverMaximum sum insuredHow to Apply
aia-com-auLife CoverAIA Priority Protection - Life Cover PlanNo minimumNo maximumEnquire
amp-com-auLife, Trauma and TPD CoverAMP Flexible Lifetime Protection – Death, TPD, TraumaNo minimumNo maximumEnquire
asteronlife-com-auLife CoverAsteron Life Insurance (Death Cover)No minimum$1,000,000Enquire
BT LogoLife CoverBT Term LifeNo minimum$1,000,000Enquire
clearview-com-auLife CoverClearView LifeSolutions Life Cover$50,000$1,000,000Enquire
comminsure-com-auLife CoverComminsure Life CareNo minimum$800,000Enquire
mlc-com-auLife CoverMLC Life Cover$25,000No general maximum though conditions may apply for cover over $15,000,000Enquire
tal-com-auLife CoverTAL Accelerated Protection - Life InsuranceNo minimumNo maximumEnquire
  • Incorrect lifting technique
  • Lifting heavy objects
  • Repeatedly moving objects

What can Income Protection Benefits be used for?

Income protection, as mentioned earlier, pays a benefit up to 75% of your gross monthly income. Rather than being paid a lump sum, the benefit is paid in monthly instalments. These funds can be used to cover bills such as mortgage and credit card payments, daily living expenses, and medical and health expenses.

  • Mortgage Payments. If you had to stop working because of an illness or injury, would you be able to keep paying your mortgage? Income protection can help you insure that in the event you are unable to work that at least you will be able to service your mortgage.
  • Credit Card Payments. Your credit card debts can accumulate a lot of interests when left unpaid. The monthly benefit from income protection can help you cope up with your credit card payments.
  • Daily Living Expenses. Income protection insurance can allow you to continue to pay your utility bills and other daily expenses should you be out of the workforce.
  • Medical and Health Expenses. When you suffer an illness or sustain an injury, it can be expensive. In addition, your injury or illness could be longstanding and the time of rehabilitation and recuperation might take longer than you expect. Income protection can help you meet the demands of medical and rehabilitation costs, especially if there are modifications to be made to fit your lifestyle change.

Compare income protection for white collar workers

William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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