Best income protection, Australia

Best

NobleOak Income Protection

NobleOak Income Protection

2026 Finder Award winner

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Top value

TAL Accelerated Protection Income Protection

TAL Accelerated Protection Income Protection

Higher maximum monthly benefoit available

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Cheap

AAMI Income Protection

AAMI Income Protection

One of the cheapest providers in our database

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• Best income protection: NobleOak Income Protection
• Best Value Income Protection: TAL Accelerated Protection Income Protection
• Best cheaper income protection: AAMI Income Protection

How we calculate Income Protection Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These products offer great value, with a good score across both features and price.

7+

Great

These are competitive products, though they didn't quite get top scores.

5+

Standard

These products might offer less value or command a higher premium than others in the market.

0+

Basic

These products might only offer a basic set of features or aren't very competitive on price.

Finder Score	Maximum monthly benefit	Maximum % of income covered	Maximum benefit period	Minimum entry age	Sum insured
Best income protection
Finder score 9.9 Excellent NobleOak Income Protection Finder Award	Finder score 9.9 Excellent	$30,000	Up to 70%	Up to Age 65	18	$65 million	Get quote View details Compare product selection Compare	loading	Why we like it Our experts selected NobleOak as the 2026 Finder Award winner as the insurer surpasses competitors with its maximum monthly benefit of $30,000 all while remaining fairly priced. Pros & cons Pros High claims acceptance rate of 90.2% High maximum monthly benefit limit of $30,000 Cons Covers 70% of income, which isn't best in market
Best Value Income Protection
Finder score 9.7 Excellent TAL Accelerated Protection Income Protection	Finder score 9.7 Excellent	$30,000	Up to 70%	Up to Age 65	19	$1,305 million	Get quote View details Compare product selection Compare	loading	Why we like it We chose TAL Income Protection as our Best Value pick because the insurer offered cover limits that impressed our judges in this year’s Finder Awards while remaining fairly affordable. Pros & cons Pros 2026 Highly Commended Award winner Can cover up $30,000 monthly, which is notably higher than many other income protection insurers on the market. Cons Covers up to 70% of your monthly income, another insurer in this list offers up to 75%.
Best cheaper income protection
Finder score 8.8 Great AAMI Income Protection	Finder score 8.8 Great	$10,000	Up to 75%	Up to 5 years	18	$222 million	Save up to 10% on premiums every year for the life of your AAMI Income Protection policy. T&Cs apply.	Get quote View details Compare product selection Compare	loading	Why we like it We chose AAMI for cheap income protection because it was one of the cheapest providers amongst we researched while still offering value inclusions. Pros & cons Pros You can be covered for up to 75% of your monthly income Flexible benefit period options available Cons Only covesr up to $10,000 per month No option to include death cover

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How we picked the best income protection

Our insurance team has gathered 200+ quotes from 14 of Australia's most popular providers to compare options. All the policies in this guide can pay you a monthly salary if you need to take time off work due to a sickness or injury. Remember, there's no single best income protection policy that suits everyone's needs, since we all have different budgets and priorities. The below should be used as a guide only.

How can I find the best income protection insurance policy?

Here are 4 features to keep an eye on when choosing the best income protection insurance for you:

Benefit period

This is how long you will be paid. Usually, the insurer will give you a few options to choose from – e.g. 1, 2 or 5 years. The smaller the benefit period you choose, the cheaper your policy will be.

Waiting period

Once you're unable to work, you can submit your claim. You'll then need to wait a specific time before your policy begins. This is the waiting period.

For example, say you submit your claim on 1 November and you select a 14-day waiting period, your policy will begin on 14 November. You will receive your first monthly payment on 14 December.

Most policies let you choose from a few different waiting periods – the bigger the waiting period, the cheaper your policy will be. If you think you can get by on sick leave for a while, it might be worth selecting a bigger waiting period.

Maximum cover

Insurers will also put caps on the amount you can claim per month. You'll only be able to earn a percentage of your current salary (usually up to 70%).

Insurers also set a maximum monthly benefit, typically around the $10,000 mark. If you earn more than that per month, insurers such as TAL and NobleOak go up to $30,000.

Stepped or level premiums

Stepped premiums go up as you get older but tend to start off cheaper. Level premiums don't increase over time but typically cost more to start off with. If you're worried about payments becoming unaffordable over time, level premiums might be best for you. Otherwise, it's likely that stepped premiums will be cheaper in the shorter term.

Our expert says

"An easy way to reduce your income protection premiums is to choose a longer waiting period. I have my policy set at the maximum: 90 days. I figure this is for a worst case scenario and if I claim on this policy, I should have enough savings to cover me for 90 days while I wait for benefits to kick in. In the meantime, my premiums are quite a bit lower."

Sarah Megginson

Money expert + media spokesperson

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FAQs

• What is the best income protection insurance policy in Australia?

  According to the 2026 Finder Income Protection Awards, NobleOak is the best income protection policy. This is because it offers generous benefit limits at a competitive price. However, please note that what's best is different for everyone based on your personal circumstances, budget and policy needs. It's always best to get quotes from a few different providers and see what works best for you.

• How much should my income protection cover?

  Income protection policies typically cover up to 75% of your monthly salary. You won't find a policy that covers you for more than what you currently earn. To know what level of coverage would be adequate for you, it can help to make a list of your expenses and see what portion of your salary goes towards covering them.

• How long is income protection paid for?

  The benefit period will vary by provider but you can expect the following options when you take out a policy: 1 year, 2 years, 5 years.

• How does income protection work?

  Income protection pays a monthly wage if you need to take time off work due to a sudden accident or illness. Most insurers will pay up to 70% of your pre-tax income. They'll also set a maximum benefit, usually around $10,000 monthly.

• Does income protection cover redundancy?

  No, income protection will not pay out if you're made redundant.

• Can I claim income protection if I'm self-employed or a contractor?

  Yes, many income protection policies can cover self-employed workers, contractors or freelancers, but the policy details matter. Some policies assess your income based on recent tax returns or business accounts instead of a regular salary, and the definitions of inability to work may differ for self-employment.

• How do waiting periods work in income protection insurance?

  A waiting period is the amount of time you must be off work due to illness or injury before your income protection benefits begin. For example, if you choose a 30-day waiting period and you're unable to work, you won't receive payments until 30 days after your claim is accepted. Shorter waiting periods mean you get paid sooner but usually cost more in premiums, while longer waiting periods can lower your premiums but require you to rely on savings or sick leave in the meantime.

To make sure you get accurate and helpful information, this guide has been edited by Jason Loewenthal as part of our fact-checking process.

Written by

Peta Taylor

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio