St George Income Protection

Choose from three levels of cover and protect your income with St George Income Protection.

St George Income Protection Insurance can provide the financial assistance that you require to meet your ongoing commitments if you are suddenly unable to work due to illness or injury for an extended period. Income protection insurance cover is available through St George's comprehensive Protection Plans range and you have the option to choose one of the following plans:

  • Income Protection (standard plan)
  • Income Protection as Superannuation
  • Income Protection Plus
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Maximum cover amountVaries by options, up to 80% of your income or a reasonable agreed value
Age of entry17-59
How do I apply?With an adviser over the phone
ProsCons
  • Flexible range of disability definitions for workers, homemakers and others
  • Options may be more limited when holding cover through superannuation
  • Modular cover types that can be combined with multi-policy discounts for more affordable cover
  • Features such as expiry age and maximum entry age vary by cover type
  • Includes an option for a benefit period up to the age of 80

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

St George has been recognised and awarded by leading financial groups, as well as its customers. In 2016 alone it picked up awards including:

  • Most Recommended Company, AFA/Beddoes Consumer Choice Awards
  • Most Trusted Brand, AFA/Beddoes Consumer Choice Awards
  • Best Claims Staff, AFA/Beddoes Consumer Choice Awards
  • Best Turnaround Time, AFA/Beddoes Consumer Choice Awards
  • Best Application Process, AFA/Beddoes Consumer Choice Awards
  • Best Total Customer Excellence, AFA/Beddoes Consumer Choice Awards

In the same year, the Australian insurance Awards recognised it with:

  • Life Insurance Company of the Year
  • Best Claims Outcome and Customer Experience

About the insurer

St George, part of the Westpac Group as of 2008, has long been focused on engaging communities at the local level, with branches and services that deliver a personal touch. It’s been equally dedicated to innovative financial products, and specialist financial advisers, all of which lend themselves well to income protection insurance and other life cover.

The exceptionally flexible product range lets you find a range of tailored options and features, while the personal focus and experienced advisers mean you have more opportunities to find the cover, and features, that work for you.

What income protection products are offered by St George?

St George aims to have plans that suit almost anyone, and offers a range of income protection cover to help. Its policies are divided into the more affordable standard cover with more limited features, and the more comprehensive Income Protection Plus with a range of additional inclusions.

  • Own Occupation income protection: Available as standard or Plus, to pay out a regular portion of your income if you are unable to work your own occupation. This is the only type of superannuation income protection available with this cover type.
  • Home Duties Income Protection: Available as standard or Plus, for income protection insurance that includes alternative disability definitions that let homemakers get cover.
  • General Cover income protection: Only available as standard cover, with alternative disability definitions suitable for those who are working part time, seasonally, sporadically or otherwise prefer a less occupation-specific disability definition.

There are also income protection policies more specifically for businesses, which can be taken out alongside the above personal income protection.

  • Business Overhead: For business owners and self-employed individuals who want insurance to cover regular business expenses in the event of them being unable to work.
  • Key person income: Business insurance to cover the business revenue lost as the result of a key person being unable to work at their full capacity due to injury or illness.

What features are offered by St George income protection policies?

Depending on your cover type, you can get different features and options. If you have multiple forms of cover, such as key person insurance and personal own occupation income protection then the features will apply specifically to claims made under that policy type.

Note that St George superannuation income protection cover has different features and options, and may not include some of the benefits that are available with cover outside of superannuation.

FeatureWhat it doesAvailability
Total Disability Benefit or Severe Disability BenefitA monthly benefit payment in the event that you are totally or severely disabled, depending on whether you have occupation or home/general cover, as a result of an illness or injury. Where multiple definitions apply to your cover, you only need to meet one disability condition.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Partial Disability BenefitA monthly benefit, of a partial amount, if illness or injury results in reduced earnings, but not total disability.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Elective Surgery BenefitCover for disability resulting from a transplant or cosmetic surgery
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Recurrent Disability BenefitWaived waiting periods for injuries or illnesses that are continuation of previous ones
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Death BenefitLump sum benefit paid in the the event of death.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Change of Waiting Period BenefitYou have the option to reduce your waiting period if you change your employment without needing to provide further medical evidence.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Future Insurability BenefitAbility to increase your monthly benefit amount without medical re-assessment. Conditions apply.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
IndexationBenefits payable increase to keep up with the increased cost of living over time
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Premium waiver while on claimSt George will waive your policy fee and stamp duty while you are receiving your monthly benefit payment.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Worldwide coverIncome protection cover anywhere in the world, 24 hours a day, 7 days a week.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Loyalty Benefit:After 3 years you get a loyalty bonus of $50,000 death cover.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Multi-policy discountGet a 5% discount on all your St George personal protection plans, including all income protection held, as well as TPD, Life and other, by having more than one.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Premium HolidayThe option to suspend your policy after 6 months, without needing to cancel and re-apply later, if your circumstances have changed.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Rehabilitation BenefitsCover for the cost of approved rehabilitation equipment and other expenses in the event of total disability
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Specified injury benefitBenefits paid in the event of specified injuries, regardless of whether or not you are qualified as disabled or able to work
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Crisis Benefits6 months of benefits payable following specified crisis events, regardless of disability or ability to work
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Accident Benefit optional extraIf you are totally disabled for more than 3 consecutive days during the waiting period as a result of an accident, you will be eligible for a benefit amount.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance
Superannuation Contribution optional extraSt George Income Protection Insurance will pay you a benefit of up to 80% of your regular monthly wage if you are making contributions to your superannuation fund.
  • Own Occupation Income Protection
  • Home Duties Income Protection
  • Own Occupation Income Protection Plus
  • Home Duties Income Protection Plus
  • General cover income protection
  • Business Overhead insurance
  • Key Person Income insurance

Features and Benefits Available for St George Income Protection Plus

Own Occupation Income Protection Plus has the widest range of benefits and features, including some of the following which may not be found in the other St George plans.

  • Counselling Benefit: St George will reimburse the costs of counselling sessions for a maximum of 10 or up to $5,000 following the payment of a Total Disability Benefit.
  • Nursing Care Benefit: You will be eligible for a benefit payment if you are confined to a bed for more than three consecutive days during the waiting period.
  • Crisis Benefit: If you suffer from a specified medical crisis event, St George will pay your monthly benefit amount for six months, regardless of whether or not you are able to return to work.
  • Accommodation Benefit: When an immediate family member has to travel to provide care for you, accommodation costs incurred will be covered by St George.
  • Family Care Benefit: St George will pay a monthly benefit to cover the lost income of an immediate family member that has to stop work to provide care for you.
  • Home Care Benefit: A monthly benefit will be provided to cover the cost of professional home carer when required.
  • Premium Waiver: Any premiums paid during the waiting period will be refundable when you receive your Total Disability Benefit.
PlanEntry age*
Own Occupation Income ProtectionBetween 17 and 59
Income Protection Home DutiesBetween 17 and 59
Income Protection General CoverBetween 17 and 59
Business OverheadBetween 17 and 59
Key Person IncomeBetween 17 and 59

How are my premiums paid?

Premiums can be paid with yearly with credit card, direct debit, cheque or rollover (for superannuation cover), or half yearly, quarterly or monthly with direct debit or credit card only.

Your premiums are affected by:

  • Age
  • Gender
  • Smoking Status
  • Health
  • Occupation
  • Pastimes
  • Any loading which may be applied to your policy
  • Your sum insured and policy options
  • Your chosen premium structure

The two premium structures available are stepped and level premiums. Level premiums will generally remain consistent over time, other than changes for inflation, statutory fees or changes to your cover, while stepped premiums will typically increase over time based on your current age and other factors.

Essentially, both premium structures are based on the age at which you take out cover, but only stepped premiums are re-assessed based on your current age each year.

How do I make a claim?

To make a claim, call the St George team on 1300 366 416, from 8.00am to 6.30pm (Sydney time), Monday to Friday.

They will arrange for you to receive the needed claims paperwork and other information. You will need to return a completed claims form as well as the evidence needed to support your claim. This will generally include:

  • Medical evidence
  • Proof of age
  • Proof of personal income
  • Proof of business expenses or business income, for Business Overhead and Key Person claims.

While receiving benefits you may be required to provide further medical evidence for proof of ongoing treatments.

What other charges are there to be aware of?

Your premium will also include other necessary charges, such as government stamp duty and a policy fee for ongoing maintenance and management. It’s also worth noting that your premiums will be higher overall if you aren’t paying premiums annually.

What are some key exclusions of the insurer?

What won't be covered?
Your St.George Income Protection claim will not be paid if:

  • The sickness or injury is caused by an act of war. However, the Death Benefit is still payable if the insured person dies on war service.
  • It is caused by intentional self-inflicted injury or attempted suicide.
  • It is a result of normal and uncomplicated pregnancy and childbirth.
  • It arises due to anything specifically listed as an exclusion in your policy schedule or membership certificate.

Key Person insurance will not pay claims if the insured has not been generating income for the relevant business or has been on unpaid leave for more than 3 months prior to the start of the waiting period.

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