Protect Insurance

Information verified correct on October 22nd, 2016

Receive cover to protect your income with Protect Insurance

Protect is a leading Australian provider of industry severance schemes. For more than 10 years, the company has been offering its services to a wide range of Australians, and it now boasts more than 30,000 members and 1,000 participating employers. Protect provides the first industry severance scheme to offer its members a choice of two account options, while it also administers a range of personal injury and insurance cover for workers. This includes income protection cover, lump sum death benefits, serious trauma benefits and more.

When an employer takes out an enterprise agreement with Protect, they agree to pay severance or insurance contributions into your Protect account. This then provides peace of mind and financial protection to workers across an extensive range of industries, including maritime, construction, manufacturing, power and petrochemical.

Genuine Redundancy Cover

This product from Protect aims to offer the maximum possible benefits to members who are made redundant. A Genuine Redundancy Account from Protect is designed to increase the amount of your severance payment by almost one-third thanks to tax-free redundancy payments.

Members will need to have chosen this account option and will also only be eligible if their employer makes them redundant because their job is no longer required. You can make a claim online and take advantage of the fact that Protect does not charge any claim processing fees.

In addition, you are still able to make a claim under your Genuine Redundancy Account if you have started a new job, while the account offers payments up to the ATO tax-free claim limit for initial claims.

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Protect Personal Injury and Illness Insurance

Protect also administers a wide range of personal injury and illness insurance covers to protect the financial needs of Australian workers. Policy schedules are held by the relevant workers’ union for each member and are issued by ATC Insurance Solutions. As injuries and illnesses suffered in the workplace are covered by your state workers’ compensation scheme, Protect Injury and Illness Insurance is mainly designed to cover you for injuries and illnesses that are not related to work.

Features of this cover include protection when you suffer an injury playing amateur sport, no requirement to first use up your sick leave before you can receive benefits, plus cover for all transport accidents.

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Income Protection Benefits

Protect Premium Income Protection is designed to offer much-needed financial assistance when you suffer an injury or illness and are unable to work to earn an income. While many income protection policies on the market will only provide cover for up to 75 per cent of an ill or injured worker’s regular income, Protect Income Protection covers 100 per cent of your income (including overtime and allowances). However, limits do apply depending on the industry you work in, such as a maximum of $1,400 per week for electrical tradespersons and a maximum of $1,600 per week for maritime workers.

The policy offers 24/7 cover to all workers, though a 14-day waiting period does apply when you make a claim. Other features include cover for amateur sport injuries and cover for any transport accidents you are involved in, not just those that occur on your way to or from work.

Protect Extra Cover

Union members who are covered by Protect Injury and Illness Insurance or MUA Protect Injury and Illness Insurance may also be eligible to take advantage to higher benefits and an increased level of cover through Protect Extra Cover. Designed as a separate policy schedule which is held up the relevant workers’ union and administered by Protect, this policy option can offer a much higher level of financial protection for you and your family.

The main feature of Protect Extra Cover is the bigger lump sums you can receive when you make a claim. For example, Protect Extra Cover offers up to a $75,000 lump sum total and permanent disablement benefit for an accidental injury outside of work, or up to a $275,000 lump sum total and permanent disablement benefit for an accidental injury suffered at work.

Other features include extended income protection cover for those aged 65 and older, as well as benefits for emergency home help and domestic duties assistance.

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Lump sum death benefits

Protect Injury and Illness Insurance is designed to offer much higher lump sum benefit amounts for many accidental injuries than those provided by a number of other industry insurers. And union members can take advantage of even higher benefits thanks to Protect Extra Cover, which entitles them to an additional lump sum benefit of 50 per cent or more to help their beneficiaries cope with the financial impact of the death of a loved one.

For example, if you die from an at-work injury and you have dependants, Protect Injury and Illness Insurance offers a lump sum benefit of $150,000. If you have Protect Extra Cover, your beneficiaries can receive an extra $125,000 on top of the initial benefit amount.

Serious trauma benefits

Financial union members who qualify for Protect Extra Cover can also take advantage of significantly increased benefit amounts for trauma claims. On top of the standard benefit amount, Extra Cover offers an additional benefit of 50 per cent or more to help you and your family cope with the financial burden of your illness or injury. The table below outlines some of the additional benefits which you may be able to receive.

AccidentProtectProtect Extra Cover
Permanent paraplegia or quadriplegia from an at-work injury$150,000an additional $125,000
Total and permanent disablement from an at-work injury$50,000an additional $25,000
Permanent paraplegia or quadriplegia from an injury outside of work$50,000an additional $25,000
Total and permanent disablement from an injury outside of work$50,000an additional $25,000
Permanent total loss of sight of one or both eyes$50,000an additional $25,000
Permanent total loss of one or two limbs$50,000an additional $25,000

Broken bones benefits

Protect insurance cover also offers a high level of protection for broken bones and fractures suffered as a result of non work-related injuries. Once again, financial union members can take advantage of a much larger benefit offered by Protect Extra Cover to provide the financial support they need.

The benefits offered by Protect and Protect Extra Cover are outlined in the table below.

AccidentProtectionProtect Extra Cover
Neck, skull or spine (full break)$5,000$8,000
Skull or spine (hairline fracture)$1,500$2,500
Ankle or knee (full break)$2,500$4,000
Ankle or knee (hairline fracture)$1,000$1,600
Leg (full break)$2,500$4,000
Leg (hairline fracture)$1,000$1,600

Dental injury benefits

Another feature of Protect Injury and Illness Insurance is protection for accidental dental injuries. You and your dependants are covered for lost, damaged or broken teeth, up to a maximum of four events per family each year. The maximum lump sum payment available from Protect is $2,500, but Protect members who are also financial union members can take advantage of a maximum lump sum benefit of $3,750 provided by Protect Extra Cover.

The benefits offered are detailed in the table below.

AccidentProtectProtect Extra Cover
Loss of front tooth, per tooth$500$500
Fractured or broken tooth, per tooth$350$350
Loss of teeth (other than front teeth), per tooth$350$350
Chipping of teeth, per tooth$175$175
Loss of filling, per filling$175$175

Additional insurance benefits

Protect Injury and Illness Insurance customers can also take advantage of the following benefits:

  • Return to work and rehabilitation assistance. Protect customers who are receiving weekly income protection benefits after suffering an injury or illness may also be entitled to receive further financial assistance of up to $20,000. These funds can be used to pay for vocational retraining, professional rehabilitation, counselling and other expenses that may be required to facilitate your return to the workforce.
  • Extended unpaid leave cover. If you take unpaid leave cover from your employer and then suffer an injury or illness that leads to disablement while you are on leave, cover for your insurance benefits will continue.
  • Extended between-jobs insurance cover. If reasons beyond your control lead to you ceasing to work for your employer, you will still receive cover for your weekly benefits if you suffer an injury and become disabled during the first 39 weeks after you cease employment. However, you will also need to have been continuously unemployed, be actively seeking work in your usual occupation and registered as unemployed.
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Case Study

Leslie was in a car accident and suffered a broken jaw, fractured cheekbone and three broken bones in her neck. With bolts in her skull and forced to wear a neck brace, Leslie was unable to work for 10 months. While her state transport accident scheme provided cover for 75 per cent of Leslie’s average weekly income, Protect topped up Leslie’s benefit payments s that they covered 100 per cent of her weekly pre-accident earnings. This ensured that Leslie could cope financially and simply focus on her recovery until she was ready to return to work.

Make a Claim

If you suffer any loss or damage and wish to make a claim, notify Protect of this fact as soon as possible. You will be sent a claim form which you will need to complete and then return to your insurer. It’s also important that you take all reasonable steps to prevent any further loss or damage occurring.

You may also be asked to provide supporting documentation to accompany your claim, such as a medical report or other information from your treating doctor.

Protect offers a competitive suite of income protection and injury and illness insurance policies to help you manage financially when disaster strikes. However, make sure to compare the company’s offerings with other products on the market to find the right cover for your needs.

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