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Whether you’re self-employed, a small business owner, a tradie, or work in an office – protecting your income can be crucial to ensuring that you have a financial safety net in place, should sickness or injury force you to take a long break from work. Explore your income protection insurance options through Choosi and find a policy with a trusted brand that can offer you the peace of mind that you and your family’s lifestyle can be protected in case the unexpected happens.

Australian income protection insurance comparison

Compare income protection insurance products

Simplify your search for income protection insurance with Choosi. We can help take the guesswork out of protecting your income by comparing a range of products from trusted Australian brands. Assess maximum cover amounts, benefit periods, and more, with our side-by-side comparison below.

BrandAge eligibility to applyMinimum coverMaximum coverExpiry ageWaiting periodBenefit periodFinal expenses benefitFeature

Real Income Protection Insurance

18 – 60$1,000 monthly$15,000 monthly, up to 70% of incomeAnniversary following 65th Birthday30 or 90 days6 months, 1 year, 2 years, or 5 years$10,000After the first year of your policy, get back 10% of total premiums you’ve paid in that time with The Real Reward™
Guardian insurance logo

Guardian Income Protection Insurance

18 – 60$1,000 monthly$15,000 monthly, up to 70% of incomeAnniversary following 65th Birthday30 or 90 days6 months, 1 year, 2 years, or 5 yearsNone
  1. Monthly benefit amount and benefit period are dependent on underwriting outcome.
  2. The income benefit payments you receive will be either monthly amount insured or 70% of your pre-tax income, whichever is less, and reduced by any other disability payments for your injury or sickness.
  3. Policy expires on the policy anniversary after your 65th birthday.
  4. The above table shows a select summary only. For full details of the benefits on offer, including what exclusions apply, read the relevant Product Disclosure Statement.

Why use Choosi for your income protection insurance comparison?

Choosi makes finding income protection insurance easy.

When it comes to protecting your income, don’t leave the security of your financial future to chance. Choosi’s team of Choosers can help you compare a range of policies and apply for income protection insurance in one spot – it’s convenient and there’s no extra cost to you!

Learn more about Choosi >

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Choosi Price Guarantee

Rest assured that when you buy an income protection insurance policy through Choosi, you won’t pay more than the direct price. If you find a cheaper price on the same policy within 30 days of purchase, not only will we refund you the difference in premiums for the first year, but we’ll also send you a $100 gift card! Terms and conditions apply.

Award-winning service

We hold ourselves to the highest standards and are committed to providing top quality service to all our customers, but don’t just take our word for it. Our customers have rated us as a Platinum Trusted Service provider on Feefo. Experience the Choosi difference for yourself – chat with our team of friendly Choosers, and we’ll handle the rest for you.

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We take great pride in complying to the Life Insurance Code of Practice, ensuring exceptional service and the highest standards when comparing life insurance products.

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Learn more about income protection insurance

Choosing insurance can be complicated and confusing. These clear, simple articles provide general information aiming to help you understand more about income protection insurance, how it works, and why you could consider it.

Income protection insurance can provide you with regular monthly payments if you can’t work because you’re sick or injured. This means you’ll have financial support in place to help cover the cost of everyday expenses. You could also get reimbursed if you need to do a rehabilitation program as well as the cost of any special equipment or modifications designed to help you get back to work.

You may be able to claim the cost of your income protection insurance premiums as a tax deduction. Your premiums could be considered a work-related expense, making you eligible for a tax benefit. Policies taken out directly and not through superannuation can be tax deductible, read more about if income protection insurance is tax deductible.

Find out where you stand with your savings

Use our handy tool to see how your financial situation stacks up against other people in your generation and age group, according to The Choosi Digital Finance Trends Report 2021.

Frequently Asked Questions (Frequently Asked Questions)

What is income protection insurance in Australia?

In Australia, income protection insurance can be taken out by employed Australian residents of working age, who work at least a minimum amount of hours per week, and can be available through superannuation or direct insurers. For the policies that can be arranged directly through Choosi, you’ll be able to apply for a policy if you’re an Australian resident aged between 18 and 60 and working at least 15 hours per week.

If you are unable to work because of sickness or injury, income protection insurance can provide you with a regular monthly payment, so that you can continue to manage your expenses and bills while you recover.

What is an income protection insurance policy?

An income protection insurance policy can be taken out by Australian residents who rely on their income to manage their expenses and cost of living, or don’t want to dig into any savings they may have if something unexpected happens. The policyowner can receive monthly benefits if they are unable to work due to sickness or injury.

With Choosi, cover can be taken out over the phone with no medical, blood test, forms or proof of income needed to apply, and you have the flexibility to apply for the benefit period and waiting period that suits your individual needs and budget.

How does income protection insurance work?

Income protection insurance can provide you with monthly benefits if you’re unable to work due to a sickness or injury. For policies available directly through Choosi, you can apply for cover up to 70% of your pre-tax income, up to $15,000 per month. To claim for your injury or sickness, you must be:

  • Unable to perform the usual duties of your occupation, where you earn your source of income from; and
  • Receiving ongoing care from a medical practitioner in relation to the injury or sickness you are claiming for; and
  • Unable to earn your income and are suffering a loss of income; and
  • Unable to work for longer than your chosen waiting period of 30 or 90 days; and
  • Not earning money from any other source, such as Workers Compensation or sick leave benefits.

Is income protection insurance worth it?

Income protection insurance may be worth considering if you rely on your income to pay your bills and maintain your lifestyle. Life’s unexpected twists, like an injury or sickness, can disrupt your financial stability – whether you’re earning a salary, running a small business, or are self-employed. Income protection insurance can pay you a monthly benefit to help cover your living costs while you recover.

Do I need income protection insurance?

To decide if you need this type of cover, you should consider your regular financial obligations – utility and grocery bills, rent or mortgage, school fees, fuel or cost of commuting, and other weekly or monthly expenses. If you are unable to work, consider whether you would be able cover these expenses without facing financial stress.

Income protection insurance could be beneficial if you don’t have enough funds to cover your expenses while you’re off work and not earning an income for a period of time due to sickness or injury.

Everyone’s financial situation is unique to them, so if you are uncertain whether income protection insurance is something you need, speak to a financial advisor.

Compare income protection insurance products now

Get cover that’s right for you by comparing a range of income protection insurance policies with Choosi – it’s easy, fast, and best of all, free to compare! Compare, choose, and apply with confidence today!

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