Income Protection Insurance

You might not be able to work because of illness or injury, but it doesn't stop the bills coming in. The income protection insurance policies Choosi arranges direct can provide up to 75% of your monthly pre-tax income, up to $10,000 per month. Don't leave your financial security to chance. 
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Why Choosi?

Choosi makes finding income protection insurance easy.

Choosi’s team of Choosers can help you compare the benefits and prices so you can confidently choose cover that suits your needs, budget and lifestyle. Learn More  

 

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When considering income protection insurance

Ask yourself these two simple questions:

 
1. Do I have financial commitments that depend on my salary?
 
2. Do I have dependants who rely on my income and/or caregiving?

 

If you answered yes to either of these questions, income protection insurance might be for you.

 

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, the benefits it provides and and
why you should consider it.

 

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    Do I need income protection insurance?

    How long could you meet all your regular expenses if your salary stopped or your income was halved? With income protection insurance, If you are sick or injured you will be able to maintain your financial independence without having to rely on family or friends, or selling assets to make ends meet.

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    Everything you need to know

    If your ability to work is taken out of your hands, income protection insurance can step in to assist. Learn more about what income protection is, how it works, who can apply and how it can cover you during sickness or injury.

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    What does income protection insurance cover?

    Income protection cover should be considered by anyone who works and would need assistance to meet their financial obligations should they be unable to work due to injury or sickness. For those who rely on their trade or are self-employed, income protection might be even more vital.

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    Features & optional benefits

    While some people want basic cover, others want to cover more bases. Income protection insurance can include additional cover to suit your specific needs. Find out more about what optional extras you can include in your policy and their benefits.

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    Calculating income protection insurance

    Doing the sums on income protection insurance is not difficult. You will need to consider what your unavoidable expenses are and how long you can afford to wait without your income to meet them, should you suffer an injury or illness and be unable to work.


Frequently asked questions

View all FAQs 

For the policies that can be arranged directly through Choosi, any working Australian resident aged 18 to 59 can apply for income protection insurance. Some exclusions do apply, so you will need to review the Product Disclosure Statement of the policy you are interested in for further information.
You will need to assess the level of cover that you need, however you should consider what bills that you have coming in monthly (mortgage, loans, general living expenses etc...).   The policies available will only insure a proportion of your salary, with the maximum being 75% of your pre-tax salary.
Income protection insurance is designed to cover you financially if you are unable to work for an extended period of time due to an accident or serious illness. For full details of what is included with the cover you are interested in applying for you should read the Product Disclosure Statement.
Generally for policies that can be arranged directly through Choosi, premiums are tax deductible, however as individual circumstances may differ, you should consult a professional tax adviser for advice regarding your particular situation.
Income benefit will pay you a monthly payment if you are unable to work for an extended period of time due to an accident or illness covered by your policy.  When you apply for income protection insurance you will need to nominate the amount you wish to be insured for and answer some health and lifestyle questions and you may then be provided with some quotes for insurance premiums.  Policies are also available to insure your partner as well.

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