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Income Protection Insurance: Free Guide & Policy Fit Check

Umbrella shielding a house in golden rain — insurance guide

Your income is worth more than your house, yet most people insure the house and gamble on the income. Income protection replaces a portion of your pay if illness or injury stops you working — and the policy details (definition of disability, waiting period, benefit period) matter more than the premium. This guide decodes those details and shows why the cheapest policy can be worthless at claim time while a slightly dearer one quietly saves a family.

⚡ Free instant check

policy fit report

Answer 0-10 (0 = left/never, 10 = right/yes). Your answers stay on this device — nothing is stored.

No — 5 — Yes, children
No — 5 — Yes
No — 5 — Yes
Never — 5 — This year

Why it matters

  • Insure what you cannot afford to replace: home, health, income, life with dependents.
  • Income protection is often more valuable than life insurance for working-age people.
  • Term life is cheap; whole-of-life is expensive — compare before being sold.
  • Exclusions and definitions matter more than premium — read the PDS/contract.

❓ Income protection insurance — FAQ

What is the difference between income protection and disability insurance?

Income protection replaces a percentage of income during temporary incapacity; disability insurance pays a lump sum for permanent loss — many people need both, structured differently.

What waiting period should I choose?

The longer the wait (30-90 days), the cheaper the premium — fund the gap with your emergency savings and take the longest wait you can survive.

What does 'own occupation' mean in a policy?

It means you're paid if you can't do YOUR job — the strongest definition. 'Any occupation' only pays if you can't do any job, and is much harder to claim on.

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