We charge no fees to you for our service. We receive our compensation from the insurance provider only after we have successfully helped you secure cover that meets your insurance goals.

The cost of income protection can vary a lot depending on your health, occupation, income, and options chosen, including the wait period (how long before payment kicks in) and benefit/payment period (how long it can pay for). It’s advisable to speak with an adviser to help you find the option most suitable for you.

This is something you chose when applying for the cover, and is usually called the “benefit” or “payment” period. These are typically 2 years, 5 years, or until age 65. Your payments will end either when you are fit to return to work, or once you’ve hit the end of this benefit period. It’s important to get this right, to ensure a balance of affordable premiums and sufficient cover.

Income Protection covers any illness or injury that leaves you unable to work. It does not cover redundancy, which is a separate, optional add on.

Redundancy cover will pay out a pre-agreed amount if you are made redundant, usually for a maximum of 6 months. Some policies kick in straight away, and others you won’t receive the first payment for up to 8 weeks. Redundancy cover can be expensive, and the benefits vary greatly across different Insurance Companies, and certainly isn’t worth it for everyone. For certain occupations and industries, it can be worthwhile peace of mind.

Yes, mental health is one of the most claimed conditions under Income Protection.

Yes! Although what options are available, and which is the best fit for you can vary depending on your employment status.

The amount of cover you need will depend on your income, lifestyle, financial obligations, and dependants. It’s a good idea to discuss this with a financial adviser to ensure you get this right and aren’t left with a shortfall at claim time.

Income protection is designed to cover loss of income when you are unable to work due to illness or injury, and some policies also give you the option to add cover for redundancy. They will not cover getting fired.

If you’ve been hit with an illness or injury leaving you unable to perform your work duties, it might be time to lodge a claim on your income protection policy. In general, you’ll need to lodge a claim and provide medical evidence that you’re unfit for work for longer than your specified wait period. Your adviser can help you through this.

While you don’t need to have it, it is strongly advised. Ask yourself – if my income stopped coming in tomorrow, how long could we continue to meet our mortgage repayments, as well as all of our other living costs? Income & Mortgage Protection gives you peace of mind that you will always be able to meet these commitments, and provide for those around you.

Yes, your Income Protection policy will have a pre-agreed waiting period. This waiting period starts from the date you were unable to work, so any sick leave or annual leave entitlements can help bridge this gap.

For most people, their ability to work and earn an income is their most valuable asset. Income & Mortgage Protection, both pay out in the event you are unable to work due to illness or injury. Unlike redundancy, where you may be able to jump straight into a different job, in this case, you have no choice, and will experience a significant loss of income until you’re fit to return. It’s designed to ensure you have the peace of mind that even if you suffer from an illness or injury, you still have income coming in to provide for your lifestyle, and for those dependent on you.

This all depends on the type of Income Protection you have, and it’s important to get advice on the pros and cons, and which one is right for you. Generally speaking, if the policy is taxable at claim time, you are also able to claim back a portion of the premiums against your tax return (even if you’re an employee). Other policies are not taxable at claim time, giving you greater certainty around what you’ll be getting paid on a claim, but you also can’t claim back any of the premiums.

Yes, cancer is one of the most claimed conditions across all policies.

Yes, although the total monthly sum of the two cannot be higher than 75% of your pre-tax income. Sometimes people will have two policies, will different wait periods. You may be comfortable with a smaller amount coming in for short-term illness/injury, but if it is longer, you may require more support. This can also be a good way to keep your premiums more affordable.