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Insuranceline Income Protection Review

Cover up to 85% of your regular income if you suffer an illness or injury with Insuranceline Income Protection

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Insuranceline Income Protection

Income protection insurance from Insuranceline allows you to secure your income so you know it will be there if you were sick or injured. You can choose the options and benefits which suit your needs and your family's financial situation, and you can choose a benefit of up to 85% of your regular income when you make a claim, which can be up to $10,000 per month for up to five years.

finder.com.au does not currently have access to this income protection insurance brand. You may wish to compare options available on the income insurance homepage.
Maximum monthly income$10,000 (Up to 85% of your monthly income)
Cover types
  • Rate Saver
Age of entry18-60
How do I apply?Over the phone with the insurer

Based on the Insuranceline Rate Saver Income Protection Insurance policy. Information last checked on April 2019. Always consult the Product Disclosure Statement (PDS).

ProsCons
  • Flexible choice of waiting periods and benefit periods
  • No cover for mental illness
  • Cover 85% of your monthly income (most policies offer 75%)

Based on the Insuranceline Rate Saver Income Protection Insurance policy. Information last checked on April 2019. Always consult the Product Disclosure Statement (PDS).

This cover might be suitable if:

  • You are after a higher percentage of income covered.
  • A flexible choice of how long your cover lasts for.
  • A flexible choice of how long you want to wait before income protection kicks in after claim.

Don't get this cover if:

  • You are over 60 years of age.

Information last checked on April 2019. Always consult the Product Disclosure Statement (PDS).

Features of the Insuranceline Income Protection Policy

Insuranceline gives you plenty of time and financial support to get back on your feet, with the following features:

  • Up to 85% of your regular income benefit: Your income protection benefit from Insuranceline is paid to you as a monthly income, which is a percentage of your regular income. While you won't have exactly the same amount coming in each month, you can use the income benefit any way you choose, whether you need to use it for medical bills, mortgage repayments, utility bills or basic every day expenses like groceries.
  • Cover for illness and injury: Insuranceline income protection cover will pay a benefit if you become ill or injured and unable to work. This means you are covered for many common injuries and illnesses such as broken bones and fractures; however, you won't be covered for mental health disorders, alcohol-related sickness or injury, injuries which are self inflicted or injuries caused by an act of war.
  • Easy application made more affordable: You can apply easily for income protection with Insuranceline over the phone.
  • Choose your waiting period and benefit period: Insuranceline's Income Protection Plus Rate Saver offers generous benefit periods of up to five years (for sickness and injury cover) giving you plenty of time to get back on your feet. Plus, with the Income Protection Plus Rate Saver you can choose a waiting period of as little as 14 days (on sickness and injury cover), so you don't have to risk depleting your savings or other investments if you're unable to work.
  • Tax deductible premiums: Not only are the Insuranceline premiums affordable to begin with, they are generally tax deductible at the end of the financial year. This means your income protection insurance can help contribute to your refund at tax-time so you don't have to make a claim with Insuranceline to start benefiting from your cover.

Note: It's a good idea to check the Product Disclosure Statement (PDS) for full terms and conditions in regards to benefits and exclusions.

Insuranceline Income Protection - Cover Options

Sickness and Injury CoverRate Saver
Maximum monthly cover amount$10,000
Maximum % of income covered85%
Benefit Period6 months, 12 months, 2 years or 5 years
Waiting Period14, 28, 60 or 90 days
Proof of incomeRequired
Cover limit after age 65Up to $3,000 per month
Expiry age75
Cover OptionRate Saver
Permanent Disability Cover$50,000 - $500,000 lump sum benefit
Holiday Injury BenefitUp to $3,000 additional cover if insured is injured on holidays or more than 200km away from home or on a school or public holiday
Kids Injury CoverBenefit payment if your child is injured

Conditions apply, make sure you read the product disclosure statement (PDS) before applying. Information last checked as correct in November 2018 and is subject to change at anytime.

Applying for Insuranceline Income Protection

  • Eligibility: Insuranceline's Income Protection Plus Cover is available to Australian residents between 18 and 60 years of age. You can take out cover over the phone or send a request for more information through the Insuranceline website. You can phone between 8am and 8pm Monday to Friday, or visit Insuranceline.com.au to find out more.
  • Duty of Disclosure: Before you apply to buy a policy from Insuranceline, you'll need to satisfy your duty of disclosure under the Insurance Contracts Act 1984. It's your responsibility to answer any questions that the insurer asks you honestly and completely, plus to disclose any information which may affect the company's decision on whether or not to grant you cover. Failure to do so could result in your future claims being reduced or rejected, or perhaps even the cancellation of your policy.
  • Cooling off period: A 30-day cooling-off period applies to Income Protection. Often described as a money back guarantee this gives you 30 days after you sign up for a policy in which you can assess whether the policy meets your needs and if you still want to keep your cover. If you cancel your policy during this time, you'll receive a full refund of any premiums you have paid.

Insuranceline Income Protection Insurance General Exclusions

Just as you would find on any other insurance policy, Insuranceline's Income Protection Plus Cover contains a list of exclusions. Under this type of policy, your claim will not be paid if:

  • You were not able to, or were only partially able to, perform your regular activities before your policy started.
  • Your claim is caused by any mental health disorder. This includes anxiety disorders, depression, stress disorders, eating disorders, drug and alcohol abuse, psychosomatic disorders and more.
  • Your claim is for any disorder related to fatigue, including chronic fatigue syndrome.
  • It is for a drug or alcohol related sickness or injury.
  • It is for cancer, stroke or heart attack at any time within six months of your policy's commencement date.
  • It is for normal and uncomplicated pregnancy.
  • It relates to war, terrorism or civil unrest.
  • It is a result of any intentional act of self-harm.
  • Your claim is for a sickness or injury that occurs as a result of or during committing a criminal offence.
  • It is for any other exclusion which Insuranceline has agreed with you first.

Insuranceline Income Protection Premiums

The premium you will have to pay for your Insuranceline Income Protection Plus Cover will be shown on your policy schedule. Your premiums will increase each year as you grow older, and will also rise in line with any increase in benefits. Similarly, if your benefits decrease your premium will be altered accordingly. Other factors, such as your occupation, age, lifestyle and health history will also be taken into account by Insuranceline when determining the amount of your premiums.

Insuranceline Income Protection Insurance Claims

  • Claim as soon as possible: Because making a claim under your income protection policy can be during a very stressful time, Insuranceline aims to keep the claims process as simple and straightforward as possible. If you need to make a claim under your policy, you need to contact Insuranceline as soon as possible after you discover you will be unable to return to work for longer than your Income Protection Plus waiting period.

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