Income Protection Insurance Comparison

Income Protection Insurance Comparison

If you are looking to compare income protection insurance, to either purchase a new policy or perhaps change an existing policy the first thing you will need to do is get some information and quotes.

To do this you will first of all need to decide how much cover that you want to apply for.   Typically you can only apply for up to 75% of your monthly pre-tax income.  You will then need to decide on a waiting period (how long you want to wait until your payments start to be payable) and the benefit period (how long you wish to receive your benefit payments for).

When you have decided on these three things you can then get some quotes, and when you have got these quotes you should then make a comparison of the features and benefits of the income protection policies available to you.

There are a number of things you should look at when doing a income protection insurance comparison:

Firstly you will need to look at the premiums and depending on the insurer you may be able to pay these premiums annually, monthly or even fortnightly.  You will need to make sure you can afford these premiums, as if you will not be covered if you do not keep your premiums paid.

The next thing to consider and compare are the cover features that are available with the policy.  This will include features such as rehabilitation benefits, hospital cash benefit and pre-existing medical condition exclusion.   To help you understand what the policy covers and explain any terminology that you do not understand you can read the product disclosure statement that is provided.

A number of income-protection policies also offer options that you can add onto your policy to extend your cover.  These include homemaker cover, child cover, death cover and accidental injury cover.  You will need to consider if any of these suit your needs and then get a revised quote for including these options.

Finally, you may also want to look at Choosi customer reviews so that you can see what other customers think of the product.   What are Choosi customer reviews?  Choosi has asked actual customers to review their income protection insurance policies, based on criteria such as value for money, level of cover claims experience and ease of purchase.

Whilst these steps are a good start with a comparison of policies available you are best placed to determine how relevant they are to you and your circumstances.

If you have any questions you can call us, and whilst we are unable to give you direct personal advice we can answer any questions you may have on the products available.

Get a quote today and make a comparison of income protection insurance policies with Choosi.

Helpful Information

See more videos

10 Tips to get a pay rise

Do you want a pay rise? It can be a daunting request to ask for but if done in a professional way, can be successful. Here are our tips to get a pay rise.

» Read More

Choosi Pty Ltd (ABN 15 147 630 886) offers insurance products from a range of Australian brands. Choosi does not provide information, or offer cover, for all products available in the market and there may be aspects to some products that we do not compare. Choosi is not an insurer and cover is issued by various underwriters. Your use of this website is undertaken in accordance with the full Terms and Conditions.

Choosi is owned by Hollard Financial Services Pty Ltd (ABN 53 128 692 884), the distributor of each pet insurance, life insurance, income protection insurance, funeral insurance and final expenses insurance policy Choosi is able to arrange directly for the following brands: Australian Seniors Insurance Agency, Guardian Insurance, Prime Pet Insurance, Real Insurance, RSPCA Pet Insurance and Woolworths Insurance. Choosi is also a related company of The Hollard Insurance Company Pty Ltd (ABN 78 090 584 473 AFSL 241436), the issuer of each pet insurance product Choosi is able to arrange directly. Information on this website does not take into account your personal objectives, financial situation or needs. You should consider the relevant Product Disclosure Statement (PDS) for more information and to ensure the product suits your needs. The PDS for each of the pet insurance, life insurance, income protection insurance, funeral insurance and final expenses insurance products sold through Choosi and our advisor partner are available through this website. Health Insurance products are not required to have a PDS, but this website has a Fact Sheet for each Health Insurance product Choosi is able to arrange.


Ground Floor, 58 Norwest Blvd, Bella Vista NSW 2153

Phone: 1300 884 384