Insuranceline Income Protection Review

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Your questions about Insuranceline Income Protection Insurance, answered

• What are some of the policy exclusions with Insuranceline?

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

  • Pregnancy
  • Self-harm
  • Drug and alcohol related sickness or injury
  • Overseas travel
  • Criminal activity
  • In jail or lawfully detained
  • War and terrorism
  • Other specific exclusions you agreed to when you took out the policy.

• How do Insuranceline Income Protection premiums work?

  The premium you'll have to pay for your Insuranceline Income Protection Cover will be shown on your policy schedule. 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.

  You are free to change the frequency of your premium payments at any time and they can be done via credit card or direct debit. However, your premium will be waived if you are sick, injured or involuntarily unemployed and receiving a relevant benefit.

  Although your premium rate isn't guaranteed, you'll never be singled out for a premium increase once your cover has taken effect. Any premium increase will be introduced across the board for all policyholders and you will receive 30 days' written notice.

  If you don't pay your premium when it is due or if it cannot be deducted from your account, then:

  • If it's your first premium, your policy will not take effect.
  • If it's any premium other than your first, Insuranceline will allow you 30 days from the due date to make this payment.

  If Insuranceline does not receive payment by this time, you'll be sent a notice informing you that your policy will be cancelled if your premium is not paid by the due date shown in the notice.

  Sickness or injury premiums are generally tax-deductible, which can help make the cost of cover much more manageable. However, remember that any benefits you receive will be assessable for taxation purposes.

• How do I make a claim on my Insuranceline Income Protection Insurance?

  Keep the following 4 points in mind regarding the claims process:

  • 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 at 1300 880 750 as soon as possible after you discover you will be unable to return to work for longer than your Income Protection waiting period.

  • Supporting evidence: Insuranceline will then provide a claim form which you or your legal representative will then need to complete and then send back to the company. You'll also need to provide any other information which the company may require to process your claim, such as proof of your income or any other documents which Insuranceline requires in order to validate your claim.
  • Monthly claims progress form: Every month that you are unable to return to work, in order to continue to qualify for a benefit you'll need to complete progress claim forms and send them to Insuranceline. Remember that you'll have to bear any standard cost involved in providing the appropriate documentation or information to Insuranceline.
  • Additional evidence: The supporting documentation and information you will need to supply may differ depending on the claim. However, all claims will require a certified copy of the proof of age of the life insured and the completion of a progress claim form each month. Other information you could have to provide may include evidence from a medical practitioner, evidence of the date and location where an event leading to an injury occurred, and proof of income for the previous 12 months.

  Once Insuranceline has received acceptable proof, your claim will be paid. However, in order to continue receiving a benefit you will need to be under the care of a medical practitioner and following their advice.