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With CommInsure Income Protection, you can choose up to three different levels of protection and customise your insurance to closely meet your financial needs if you can't work due to serious illness or injury. You can choose the level of protection, waiting period, benefit period and portion of income to insure so you can get protection that meets your cover requirements and budget.
An adviser can help you find cover from trusted life insurance brands.
Maximum monthly income benefit | $30,000 (Up to 75% of your monthly income) |
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Age of entry | 18-64 |
How much can I expect to pay? | For an annual income of $75,000:
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How do I apply? | With an adviser over the phone |
Maximum cover amount and age of entry varies with occupation and other policy features. Based on CommInsure Protection Income Protection Insurance. Age of entry varies with the type of premium you choose. Costs are an estimate based on a male, non-smoking office worker and was taken out on July 2020 using Finder's quote engine. Cost is subject to change at anytime.
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Information last checked on July 2020. Always consult the Product Disclosure Statement (PDS).
Based on CommInsure Protection Income Protection Insurance. Information last checked on July 2020. Always consult the Product Disclosure Statement (PDS).
CommInsure Income Protection can pay you up to 75% of your regular income if you can’t work because of illness or injury. It offers a choice of three levels of income protection including:
Included benefits | Income Care, Income Care Plus | Income Care Super | SMSF Plan |
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Total Disability Benefit | Yes | Yes | Yes |
Partial Disability Benefit | Yes | Yes | Yes |
Recurrent Disability Benefit | Yes | Yes | Yes |
Boosted Total Disability Benefit | Yes | Yes | Yes |
Medical Professionals benefit | Yes | No | No |
Reward Cover benefit | Yes | Yes | Yes |
Rehabilitation benefit | Yes | No | No |
Unemployment Cover benefit | Yes | No | No |
Death benefit | No | Yes | No |
Waiving Premiums | Yes | Yes | Yes |
Other Premium waivers | Yes | Yes | Yes |
Waiver of waiting period for specific conditions | Yes | Yes | Yes |
Automatic indexation | Yes | Yes | Yes |
Guaranteed insurability | Yes | Yes | Yes |
Reduced waiting period | Yes | Yes | Yes |
Extended cover | Yes | Yes | Yes |
Continuation option | No | Yes | No |
Other built-in features of CommInsure Income Protection designed to give you greater flexibility in your cover include:
All policies contain exclusions, which you cannot make claims for. Some notable CommInsure income protection exclusions are:
CommInsure Income Protection also offers a range of additional options to make your cover more flexible, including:
Premium rates are set for the first 12 months of a policy and may change after that time. Premium rate options include level premiums, where your premiums don’t increase as you get older, and stepped premiums, where they do. Other factors that affect how your premium is calculated include:
You have three months following a disabling event to inform CommInsure of a claim. Do this by calling 13 3982 to receive a claims kit and the relevant forms. You and your doctors will need to fill it and send it in. CommInsure will then assess it and let you know the outcome.
Your claims will need to include:
Note: While you are receiving benefits you may be asked to complete a record of your daily activities, as well as undergo further medical tests at CommInsure’s expense.
Back to topThe eligible age range for CommInsure Income Protection depends on your policy type or the occupation class you are in;
Cover ends for all income protection policies on the policy anniversary before you turn 60 or 65. The exception is when you still have income protection at age 65, in which case cover can be extended to age 70.
Back to topOther things to be aware of with CommInsure Income Protection:
Flexible premium structure. As previously mentioned, you have the choice of level or stepped premiums. Stepped premiums are cheaper early on and get more expensive, particularly after age 50, whereas level premiums cost more at first but usually become more affordable later in life as you accumulate more wealth.
If your interested in receiving a quote for CommInsure Income Protection or just want to find out more, you can make a secure enquiry via the form located above. A consultant will provide you with a quote for cover and explain any of the features you are not sure of. Once you have found suitable cover, they will assist you through the application process.
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