Income Protection Insurance
Pays 70–75% of income if illness or injury stops you working.
What is Income Protection Insurance?
Income protection insurance pays a monthly benefit (typically 70–75% of your pre-tax income) if illness or injury prevents you working. Policies can run for 2, 5, or 10 years, or to age 65.
Why it matters for you
For professionals with high-income trajectories — especially medical professionals and family breadwinners — income protection is often more important than life insurance. Premiums are tax-deductible. Always separate from super-based cover to avoid erosion of retirement balance.