Compare Income Protection Policies

Income protection insurance — your support when life throws you a curveball

Life is never linear and many of us often find ourselves in situations we never saw coming. Income protection insurance can give you one less thing to worry about.

Income protection pays a monthly wage if you need to take time off work due to a sudden accident or illness. Most insurers will pay up to 70% of your pre-tax income. They'll also set a maximum benefit, usually around $10,000 monthly.

The payouts from income protection can help you meet regular expenses, such as your mortgage or rent and groceries. It can also maintain your family's lifestyle while you focus on your recovery.

You can compare a range of income protection insurance policies below to find the right fit for your circumstances.

Compare income protection policies

How we calculate Income Protection Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These products offer great value, with a good score across both features and price.

7+

Great

These are competitive products, though they didn't quite get top scores.

5+

Standard

These products might offer less value or command a higher premium than others in the market.

0+

Basic

These products might only offer a basic set of features or aren't very competitive on price.

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Finder Score	Maximum monthly benefit	Maximum % of income covered	Maximum benefit period	Minimum entry age	Sum insured
Promoted Finder score 9.7 Excellent TAL Accelerated Protection Income Protection	Finder score 9.7 Excellent	$30,000	Up to 70%	Up to Age 65	19	$1,305 million	Get up to 70% of your income covered with flexible short and long term benefit periods.	Get quote View details Compare product selection Compare	loading
Promoted Finder score 8.8 Great AAMI Income Protection	Finder score 8.8 Great	$10,000	Up to 75%	Up to 5 years	18	$222 million	Purchase a new AAMI Income Protection policy and save $100 on your first year. T&Cs apply.	Get quote View details Compare product selection Compare	loading
Promoted Finder score 9.9 Excellent NobleOak Income Protection Finder Award	Finder score 9.9 Excellent	$30,000	Up to 70%	Up to Age 65	18	$65 million	Get your one month free when you get cover by 28 Feb 2026. T&Cs apply.	With NobleOak, you can lock in a policy with a benefit period covering you up to the age of 65. Cover limits may go as high as $30,000.	Get quote View details Compare product selection Compare	loading
Finder score 8.2 Great Zurich Ezicover Income Protection	Finder score 8.2 Great	$12,000	Up to 70%	Up to 5 years	19	$5 million	Get your first month of cover free when you buy Zurich EziCover Income Protection. T&Cs apply.	Get quote View details Compare product selection Compare	loading
Finder score 6.5 Standard ahm Income Protection	Finder score 6.5 Standard	$10,000	Up to 70%	Up to 5 years	18	Data not available	Enjoy 2 Months Free In The First Year. Purchase By 31 March 2026. Use Code AHM2MF. T&Cs apply.	Get quote View details Compare product selection Compare	loading
Finder score 7.1 Great Medibank Income Protection	Finder score 7.1 Great	$12,500	Up to 70%	Up to 5 years	18	Data not available	Get a 10% discount if you're already a Medibank health insurance member. T&Cs apply.	No medicals or blood tests needed to apply.	Get quote View details Compare product selection Compare	loading
Finder score Not yet rated NobleOak Income Protection (Pre-existing conditions)	Finder score Not yet rated	$25,000	Up to 75%	Up to Age 65	18	Data not available	Cover for pre-existing conditions are assessed on a case by case basis during the application process. You may be subject to an increase in premiums or a specific exclusion.	Get quote View details Compare product selection Compare	loading

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How we picked these

Finder Score - Income Protection

Income Protection is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 12 products and gave each one a score rank out of 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read the full methodology

How much income protection insurance do I need?

Determining how much income protection insurance you need can be tricky. After all, you want to properly financially safeguard yourself and your loved ones, so they can continue to live a comfortable lifestyle.

One of the best places to start when considering how much cover you need is to draft a budget of all your monthly expenses. This will paint a clear picture of how much you'd need to stay on top of expenses. You may also want to consider adding a little bit extra to add to your super.

That said, it's also worth investigating whether you already have some form of income protection through your super.

What to consider in an income protection policy

When comparing income protection policies, there are a few key features that can make a big difference in how useful the insurance is for you, including:

• Waiting periods. The waiting period is how long you must be unable to work before benefits start being paid. Shorter waiting periods (14 or 30 days) mean you'll get paid sooner but premiums are usually higher. Longer waiting periods (60 or 90 days) can significantly reduce your cost but you'll need enough savings or sick leave to cover the gap before benefits start.

• Benefit amount. Income protection typically pays a percentage of your income. Most policies cover up to 70% of your pre-tax salary, but some can go up to 75% or slightly higher depending on the provider.

• Benefit period. This is how long the insurer will pay you if you can't work. Short benefit periods between 1–5 years cost less but may not provide long-term support, meanwhile, longer benefit periods can be more expensive but offer broader protection.
• Premium type. Income protection premium types are either stepped or level. Stepped premiums start cheaper but increase as you age and level premiums are higher upfront but more stable over time.

How to find the best income protection policy in Australia

Choosing the right income protection policy is a big decision, as having the right cover by your side can make all the difference. That's why Finder conducts an annual analysis into the best performing products in the market across income protection policies.

Our experts looked at 7 key features across 21 insurers to determine which policies had top of the range cover and provided exceptional value to customers.

For 2026, NobleOak received a Finder Award for Best Income Protection. The insurer offers an impressive maximum monthly benefit while keeping prices affordable for customers.

We also passed out 2 Highly Commended Awards to TAL and Suncorp for its policies, making both a worthy contender for Aussies seeking cover.

FAQs

• What can I use income protection insurance benefits for?

  Income protection insurance is designed as a temporary replacement for your salary, so you can spend it however you like. Remember, you'll have a little bit less to work with because income protection will never cover more than 85% of your wage, but it can still help with the following:

  • Your rent or mortgage
  • Medical expenses related to your illness or injury
  • Regular bills including utilities, school fees and home insurance
  • Credit card bills, car loans and other debts
  • Daily living expenses, including groceries and household goods

• How long can I stay on income protection?

  How long you can stay on income protection depends on the benefit period you choose when you take out the policy. Common benefit periods include 1 year, 2 years, 5 years or up to age 65.

  As long as you continue to meet the policy's definition of disability and remain unable to work, the insurer will keep paying benefits until you return to work, the benefit period ends or you reach the policy's maximum benefit age.

• Can you be terminated while on income protection?

  Yes, income protection insurance does not prevent your employer from terminating your employment. The policy is designed to protect your income, not your job.

• What does income protection not cover?

  Income protection generally will not provide cover for redundancy or unemployment, pre-existing conditions, self-inflicted injuries or illness and pregnancy or childbirth. Before you sign up to an income protection policy, have a read through the PDS to ensure you are clear of the scenarios you will and won't be covered for.

• What if I already have cover through my super?

  You can have an income protection policy through your super, as well as through a standalone policy. To see what (if any) insurance you have inside your super, call your super fund and inquire with them. They can inform you of the steps you need to take if you choose to amend or cancel your cover.

  Good to know: Income protection is often far more basic within super accounts, so you may well find better terms and more tailored insurance by going direct with an insurer.

• Can I get cover if I only work part time?

  Yes. Insurers typically offer income protection to people who work at least 20 hours a week and have been in the same role for 12 months.

• Are premiums tax-deductible?

  Often, yes. The Australian Taxation Office (ATO) has confirmed that you can claim the cost of insurance premiums if they protect against loss of income.

  Also, income protection premiums can't be claimed on insurance held through your super fund (where premiums are deducted from your super contributions).

  Keep in mind only premium payments are tax deductible; any payouts from an insurer aren't. Any benefits you receive must be included on your tax return.

Written by

Peta Taylor

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

Co-written by

Ceyda Erem

Senior writer

Ceyda Erem is Finder’s senior writer for insurance and has almost 10 years of experience writing about personal finance. Formerly a copywriter for several business and finance clients, Ceyda has written hundreds of articles, guides, blogs and more to ensure Australians stay in the loop about how to best manage their money. She has a Bachelor of Arts, Majoring in Writing from Macquarie University. See full bio

Ceyda's expertise

Ceyda has written 76 Finder guides across topics including:

• Insurance