Income Protection Insurance Australian Super

Income protection ip can provide you with a regular income if you get sick or injured and as a result are unable to work.

Income protection insurance australian super. You ll find details about your insurance options including cover designs work ratings changing or cancelling your cover standard exclusions and information about nominating your beneficiaries. The productivity commission found that balance erosion for low income members due to insurance could reach a projected 14 of super balances in many cases and for low income members with irregular work hours and several multiple income protection policies it could be at least a quarter of their entire super savings. It means you ll have financial security for your living expenses so you can concentrate on your health. Having income protection insurance in super means that your premiums are paid directly from your super account.

Income protection insurance from an insurance brand. Eligible members receive age based death total permanent disablement tpd and income protection cover. Policies offered by life insurers may include features and options not available through super funded policies. Income protection ip cover can replace up to 75 per cent of your monthly income alleviating the stress and making your time off easier.

You can find out more about income protection cover through australiansuper by reading our insurance in your super guide. Income protection insurance in super or in retail. Australiansuper income protection insurance pays a portion of your regular wage while you are unable to. Australian super premiums rose by around 20 in may for members who are insured for income protection although that figure is 25 for younger members of the scheme.

You will remain covered by your australian super income protection policy until you are. We have existing relationships and bulk buying power with insurance providers which means we re able to offer competitive policies that may not be available to you as a public customer approaching a broker or insurer.