Can travel insurance cover loss of income?

Many comprehensive travel insurance policies include a loss of income benefit. Under the benefit, you’ll receive an ongoing weekly benefit if you are injured during your journey and are then unable to return to work when you get home. A regular income while you are unable to earn a living, can provide the financial assistance you need to keep your head above water and focus on recovering.

How does travel insurance protect me?

If you're injured on your travels and can't return to work, then travel insurance can provide you with:

• A substitute income up to a maximum specified amount
• Cover for an extended period of time
• Payments on weekly basis or monthly basis

• What are typical conditions around loss of income cover?

  In order to qualify for loss of income cover you'll typically need to satisfy the following conditions:

  • Disablement from the injury within occurs a certain time frame. This is usually 30 days or 90 days.
  • Disablement must continue for more than 30 days.The disablement must continue for more than 30 consecutive days following your return to Australia (or from when you originally planned to return to work)
  • You must be unable to return to previous work. As a result of your disablement, you are unable to return to your previous work or suitable alternative work
  • Medical certification. You must be under the regular care of a medical adviser and act in accordance with that adviser’s instructions. You will most likely also need the adviser to provide written confirmation that your disablement prevents you from gainful employment.
  • Centrelink payment may be deducted from the payment. Any benefits you receive through Centrelink or other insurance will be deducted from your payment.
  • Look for a comprehensive policy. Loss of income is typically not included in basic policies.

Which brands cover loss of income?

Provider	Maximum covered?more info button	Payment length	Cover for dependents?	Conditions	Apply
fastcover	$10,400more info button	Up to 26 weeks	No	No payment for the first 30 days of disablement from the time you return to Australia	Get quote
Tick Travel	$10,400more info button	Up to 6 months	No	No payment for the first 30 days of disablement from the time you return to Australia	Get quote
Insureandgo	$10,400more info button	Up to 6 months	No	No payment for the first 30 days of disablement from the time you return to Australia	Get quote
1cover	$10,400more info button	Up to 26 weeks	No	No payment for the first 30 days of disablement from the time you return to Australia	More info
American Express	$10,400more info button	Up to 6 months	No	No payment for the first 30 days after you originally planned to resume your work in Australia	More info
Budget Direct	$10,400more info button	Up to 6 months	No	No payment for the first 30 days of disablement from the time you return to Australia	More info
Online Travel Insurance	$10,400more info button	Up to 26 weeks	No	No payment for the first 30 days of disablement from the time you return to Australia	More info
Ski-insurance	$10,400more info button	Up to 26 weeks	No	No payment for the first 30 days of disablement from the time you return to Australia	More info
Travel Insurance Saver	$10,000	Up to 6 months	No	No payment for the first 30 days after you originally planned to resume your work in Australia	More info
Worldcare	$10,400more info button	Up to 26 weeks	No	No payment for the first 30 days of disablement from the time you return to Australia	More info

^{Table updated December 2021}

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Am I covered due to illness?

When it comes to loss of income, most policies will exclude cover if you're unable to work due to an illness. Some policies will not specifically state an exclusion for illness however it's vital that you check the fine print of your policy to work out when cover will and will not apply.

How does this protect my family?

For your spouse or partner. To get the same loss of income cover for your partner, you'll have to get a family policy or take out an additional policy for your partner.
For all other policies. For all policies that have no included cover for dependents, you can get a family policy and name your dependent (Spouse/partner/child) as an insured person.

Am I still covered if I receive a payment from Centrelink?

Your travel insurance policy may contact Centrelink and check for any benefits you've received for your inability to work. If you have, then this amount will be deducted from the payment your travel insurer pays you. Both Travel Insurance Saver and NIB Travel Insurance explicitly state this in their product disclosure statements.

What are the exclusions for this cover?

Some providers will exclude disability as a result of illness from loss of income cover. Other common exclusions are:

• No cover for any loss of income as a result of your death
• No cover for the first 30 days after you planned to return to work
• No cover if you do not become disabled within 30 days of the injury
• The benefit will only be paid for a limited time period, for example a maximum of 26 weeks
• No cover if your injury is covered by any other insurance or statutory benefits
• No cover for the loss of income of your dependents

What should I do if I’m injured overseas?

There are several things you can do to ensure that you receive the best possible care if you’re injured overseas, including:

• Notify your insurer. You need to notify your insurer of any incident that may lead to a claim as soon as possible. You’ll usually need to fill out a claim form and your insurance provider will advise you of any other steps you need to take.
• Get reports. If you’re caught up in an incident that involves the police, get a written copy of any police report. Ask your doctor for a medical report that includes the date of the accident, the injuries you received and any treatment.
• Keep your receipts. In some cases your insurer will cover all your medical bills upfront, but in other situations you’ll need to pay for some expenses out of your own pocket and claim them back later. Make sure to keep receipts for everything.
• Comply with your insurer’s requests. If your insurance provider requests additional information or documents to support your claim, make sure you provide them as soon as possible.

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