Income Protection Insurance

Income protection insurance (also known as salary continuance or income replacement) provides a monthly payment to replace lost income if you are unable to work due to injury or sickness.

Level of Cover

The maximum allowable cover is generally 75 per cent of your gross wage.

Benefit period

The longer the benefit period, the higher the premium.

Can be purchased inside or outside of superannuation

Income protection is available through your super fund or can be purchased as a stand alone policy outside of super.

Tax treatment

  • Premiums are generally tax deductible.
  • The payments received are considered income and are subject to tax.


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