Income Protection Insurance Comparison in Australia - How To Get The Best Cover

Income protection insurance offers you a safe landing when you are suddenly unable to work due to an illness or injury. You will be able to access a monthly payment that will enable you to pay for your immediate expenses and debts. When planning to take out an income protection insurance policy, it is always a good idea to check out the different policies available so you can settle on the best income protection insurance. Compare Australia insurance companies and the policies they offer to know what is available in the insurance market.

Factors Affecting Income Protection

Some factors that affect the cost of your income protection and the range of coverage you will be able to get are your lifestyle and budget. Other factors that are out of your control but that also affect the type of income protection an insurance provider will be willing to offer you are your age and the medical history of your family.

Your occupation bears heavily on the type of income protection you will get in that the level of risk of your occupation will be assessed when you apply for insurance. If your occupation has a high level of risk, then you will have to pay higher premiums. Your occupation may also limit the types of income protection you can apply for. If you have an occupation that is manual in nature, it may be difficult to get a cover for own occupation, and you may end up taking any occupation cover. If your job is very technical, then you may end up having to take an own occupation cover since the likelihood of you being able to take up any other job is slim.


In order to make the best comparison of the available income protection policies, you can get quotes from different companies. You can decide to visit your preferred insurance companies who will prepare a quote for you once you discuss with them your personal details and circumstances.

An easier way of getting quotes is by visiting the website of your preferred insurance companies, where you will be provided with a form. In the form, you are required to enter your details including gender, date of birth, smoking history, occupation and your income. You will also be requested to indicate the monthly benefit you would like to receive.

With these details, a quote will be generated that is tailor-made to your situation. The quote will also show you how much your monthly premiums are likely to cost you. You will be given the option to go ahead and apply for the quoted insurance policy if you feel that it suits your needs.

Broker Websites

To make life even easier, licensed insurance brokers have come up with very comprehensive websites that allow you to get several quotes at the same time. All you have to do is enter your details and several quotes from different insurance companies are generated simultaneously. You can then conveniently go through the quotes in detail and check what is on offer for income protection insurance. Compare Australia insurance companies' policies and make an informed decision on the policy that best suits you.

Kerrie Peacock is an adept personal insurance researcher and you can benefit from her extensive research. For more information and tips on what can work for you, visit

This article was published on 11 Aug 2014 and has been viewed 651 times
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