Income Protection
Income Protection
Income Protection Insurance is designed to pay you a monthly benefit if you're unable to work due to illness or injury. It helps replace a portion of your regular income, ensuring you can continue to pay bills, support your family, and maintain your lifestyle while you recover.
This cover is particularly valuable for self-employed workers, contractors, and professionals who rely on their income to meet ongoing obligations. At Angelic Insurance, we help you compare a variety of income protection policies from leading Australian insurers, providing general advice to guide you through waiting periods, benefit periods, exclusions, and cover types.
How It Works
You pay regular premiums, and if you become unable to work due to a covered illness or injury, the policy pays a percentage of your income, usually up to 75%, after a waiting period.
Choose your benefit amount
You can generally insure up to 70% of your pre-tax income. This helps cover essential living costs during your recovery.
Select a waiting period and benefit period
The waiting period is how long you must be unable to work before benefits begin (e.g., 30, 60, or 90 days). The benefit period is how long payments will continue (e.g., 2 years, 5 years, or up to age 65).
Complete the application
You’ll provide details about your occupation, health, lifestyle, and income. Some policies may require medical checks or financial evidence.
Pay premiums
Premiums can be stepped (increasing with age) or level (stays the same). They’re influenced by your risk profile, age, and occupation.
Make a claim if needed
If you’re unable to work due to a covered illness or injury, you can lodge a claim and receive monthly payments after the waiting period ends.
Why You Need It?
It ensures that you can continue to meet your financial obligations, such as rent, mortgage, or daily living expenses, even if you are unable to work for an extended period.
Your Income Is Your Most Valuable Asset
If you couldn’t work for 3–6 months, how would you cover rent, food, debts, and school fees? Income protection helps maintain your cash flow during tough times.
Rising Household Costs
Most Australians carry mortgages, personal loans, and ongoing living expenses. A temporary disability can lead to long-term financial hardship without protection.
Not Covered by Workers’ Compensation Alone
Workers’ comp only covers work-related injuries. Income protection covers both work and non-work-related illnesses and injuries.
Flexible for All Lifestyles
Whether you're self-employed, a salaried professional, or a casual worker, there’s usually an income protection option to match your needs.
Tax Benefits
In many cases, income protection premiums are tax-deductible adding extra value to the cover you pay for.
How Angelic Insurance Can Help?
Angelic Insurance offers flexible income protection plans with various benefit and waiting periods. Our team helps you find a policy that suits your occupation, income level, and financial commitments, ensuring you can maintain financial stability during tough times.
Compare Multiple Policies
We help you compare income protection insurance from a wide range of trusted Australian insurers, saving you time and confusion.
General Advice You Can Understand
Our licensed brokers explain benefit amounts, waiting periods, and policy options in plain language so you feel informed not overwhelmed.
Find Cover That Matches Your Job
Different occupations carry different risks. We help you find a policy that’s appropriate for your role, income level, and risk profile.
Support Through Claims
If the unexpected happens and you need to lodge a claim, our team is here to assist you every step of the way, making sure your case is handled with care.
Ongoing Reviews
We regularly review your policy with you to ensure it still aligns with your income and family needs especially if your employment or lifestyle changes.
Frequently Asked Questions
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