ANZ Income Protection

Receive a replacement income if you can't work with ANZ Income Protection.

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If you were suddenly unable to earn an income for any extended period of time, would you have enough savings to maintain your family's lifestyle and keep with your financial obligations? Without a protection plan in place, the lifestyle you have worked so hard to build can start to deteriorate very quickly. This is where ANZ income insurance can help to protect all that you’ve worked for if you are suddenly unable to work because of illness or injury.

ANZ Income Protection no longer offers income protection insurance to new clients. We have left this page for existing members of ANZ income protection insurance. You can compare income protection insurance from some of our direct partners here.

ANZ Income Protection Insurance can cover up to 75% of your gross annual income up to $10,000 per month if you can't work due to illness or injury. The policy also includes additional benefits of Involuntary Unemployment Cover and Family Care Cover. This review will explore the various benefits and features of the policy.

Maximum monthly income$10,000 (Up to 75% of your monthly income)
Cover Types
  • Income Cover
  • Involuntary Unemployment Cover
  • Famliy Care Cover
Age of entry18-59
How do I apply?Online over the phone, directly with the insurer.
  • Level premiums are offered as an option
  • Only 2 waiting period options
  • Involuntary Unemployement Cover offered as an option for redundancy
  • You can pause cover during parental leave

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

This cover might be suitable if:

  • You want the option of premiums that don't increase based on your age
  • You are under 59 years of age
  • You anticipate having children in the near future and would like to pause your cover momentarily
  • You want to add on redundancy cover to regular (injury and illness) income protection

Don't get this cover if:

  • You are over 59 years of age
  • You want a shorter waiting period e.g. 14 days
  • You have pre-existing conditions - they are not covered and are not assessed at application.

Key features of ANZ Income Protection

ANZ Income Protection can pay you an ongoing monthly benefit which is a percentage of your regular income, to help you keep up with all of those ongoing bills. While you may have some savings or accumulated investments that you can tap into in an emergency, ANZ Income Protection means that you potentially don’t have to exhaust all of your savings, and can maintain security for your family and reduce financial pressure while you recover. With ANZ Income Protection, you can benefit from the following features:

  • Monthly benefit payments for illness or injury: If you suffer an illness or injury and are unable to work, ANZ Income Protection will pay you up to 75% of your gross annual income, up to a maximum of $10,000 per month. The amount of the benefit paid to you will depend on your pre-claim earnings and may be less than the maximum amount of cover. At the time of the claim you may be required to provide additional proof of your income and earnings.
  • Up to a five year Benefit Period: You can choose a benefit period of either 1 year, 2 years or 5 years. The benefit period is the maximum period of time we pay you for any one illness or injury claim you make.
  • Tax-deductible premiums: Your ANZ Income Protection premiums are tax deductible so that at the end of the year you’re able to get back some or all of what you’ve paid on your income protection, removing that last excuse of cost, and making sure you’re able to protect your family even when you’re unable to work.
  • Eligible illnesses and injury: To be eligible for a monthly benefit payment under your ANZ Income Protection, you must have become disabled after the date your policy application was accepted, and be disabled throughout the waiting period of the policy and since the end of the waiting period unless the claim is recurring.
  • Your choice of waiting period: You can choose a waiting period of 30 days or 90 days, whichever suits you when you apply for your ANZ Income Protection. The longer the waiting period, the cheaper your premiums will be, and the shorter your waiting period, the more expensive your premiums will be. You therefore need to balance your current budget with your expected savings and financial position if you were unable to work, to decide how long you would be able to wait before your first benefit payment. The waiting period starts on the day you consult a medical practitioner who provided advice and consultation of your disability.
  • Change your benefit amount: You can decrease the benefit amount on your ANZ Income Protection at any time, however, it can only be increased in certain circumstances. See the "You can increase or decrease your cover depending on your income" section of the PDS for details.
  • Cover for recurring illness or injury: If you suffer from the same illness or injury within six months of making a claim, you can restart your benefit and ANZ will waive the waiting period.

How can I apply for ANZ Income Insurance?

To apply for ANZ Income Protection, you must be:

  • 18 to 59 years old;
  • An Australian or New Zealand resident or hold an Australian permanent residency Visa;
  • A holder of a valid Temporary Skills Shortage or Temporary Work (Skilled) (subclass 482 or 457) visa.
  • Currently working more than 20 hours per week in your main occupation;
  • Have been continuously employed or self-employed for 12 months in Australia or New Zealand in the 24 months before your application;
  • Be a recent graduate, meaning you've graduated in the last 12 months with a University or Vocational Education and Training (VET) qualification in Australia or New Zealand and are currently employed (but not self-employed)
  • Currently be living in Australia.
  • You must not have an ANZ Income Protection policy at the time you apply for this product.

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2 Responses

  1. Default Gravatar
    sarahJuly 22, 2016

    I have ANZ income protection insurance with you. I would like you to let me know my policy number and what I am protected for please.



    • Avatarfinder Customer Care
      RichardJuly 22, 2016Staff

      Hi Sarah,

      Thanks for your question. You’ve contacted, we are a financial comparison service and not an insurer. You will need to contact ANZ directly about this matter, which you can do by calling 13 16 14.

      I hope this was helpful,

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