Income protection insurance features and optional benefits

 
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Income protection insurance features and 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.

 Premiums are usually tax deductible 
 Tailor your package to suit your family's needs
 Choose from a range of optional covers

 
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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* if you become unable to work due to injury or illness.1 Imagine, at an already difficult time, not having to worry about how you're going to pay the mortgage and household bills – even putting food on the table.

You can adjust your level of cover to suit your circumstances and budget, and include optional benefits to better protect your family against a variety of situations.

What extras can I include?

The table below provides an overview of optional covers that may be available with your Income Protection Insurance policy available direct with Choosi.

Type

Benefits

Rehabilitation Benefits
  • Assists with the costs of rehabilitation
  • If you participate in a Rehabilitation Program, you can be reimbursed an additional 50% of your Monthly Amount Insured each month you participate in the program (up to a maximum of six months)
  • Helps with return-to-work costs, including workstation modifications or special equipment
  • Only available on a two or five-year benefit period

Homemaker Insurance
  • Covers a Homemaker partner if unable to perform any of their domestic duties for more than 30 days due to Sickness or injury
  • Monthly amount paid for up to six months

Children's Insurance
  • Each insured child can be covered for $20,000 to $50,000
  • Benefit payment in the event of Accidental Death, serious injury or illness, as defined in the PDS
  • Cover for Australian Residents aged 2 to 17

Final Expenses
  • Benefit payment of a lump sum to nominated beneficiaries in the event that you pass away as a result of accidental or natural causes
  • Can apply for a Final Expenses Insurance Benefit Amount of $50,000
  • Can assist with funeral and other costs

 

Choosi may offer some or all of these options. Choosi's team of Choosers can help you compare the policies they offer direct, so you can choose the right one for your situation. Request a quote today.

This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product. Choosi offers insurance products from a range of brands but does not compare all products available in the market. 

* Subject to a maximum of 75% of your monthly pre-tax income at the time of claim.

References  

Learn more about income protection insurance

 

Calculating income protection
 

Do I need income protection?
 

Everything you need to know
 

Features and benefits
 

What does it cover?

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AFSL Number: 402397 Secure Copyright © 2021 Choosi Pty Ltd ABN 15 147 630 886

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

Choosi is a related company of Greenstone Financial Services Pty Ltd (ABN 53 128 692 884; AFSL 343079; Ground Floor, 58 Norwest Boulevard, Norwest NSW 2153 Australia), the distributor of each pet insurance, life insurance, income protection insurance and funeral insurance policy. Choosi is able to arrange policies directly for the following brands: Kogan Life Insurance, Australian Seniors, Guardian Insurance, Prime Pet Insurance, Real Insurance, RSPCA Pet Insurance, Guide Dogs 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; Level 12, 465 Victoria Avenue, Chatswood NSW 2067 Australia), the issuer of each pet insurance product Choosi is able to arrange directly. Choosi is also a related company of PetSure (Australia) Pty Ltd (ABN 95 075 949 923; AFSL 420183), the administrator of each pet insurance product Choosi is able to arrange directly.

Where requested by you, Choosi can provide access to other life, income protection and funeral insurance brands by referring you to a third-party partner. The home & contents and car insurance products available are issued and distributed by Compare the Market Pty Ltd (ABN 83 117 323 378; AFSL 422926). The business insurance products available are arranged by BizCover Pty Ltd (ABN 68 127 707 975; AFSL No 501769). If you choose to purchase these products, Choosi will refer you to the appropriate partner. If you purchase a product as a result of a referral, Choosi will receive a fee or commission, depending on the partner you’re referred to.

Choosi has commercial relationships with all insurers that are available for comparison. Choosi obtains a commission from the insurer for arranging any insurance you choose to buy.

Information on this website doesn’t take into account your personal objectives, financial situation or needs. You should consider the relevant Product Disclosure Statement (PDS) or Policy Booklet 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 are available through this website. Relevant PDS’ and/or Policy Wording Documents for products available through our partners are available on their websites.