Insuranceline income protection review

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With Insuranceline income protection, you can choose a benefit of up to 75% of your regular income when you make a claim, which can be up to $10,000 per month for up to 5 years. Let's take a closer look.

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Product AUFLI-INC	Finder Score	Maximum monthly benefit	Maximum % of income covered	Maximum benefit period	Minimum entry age	Sum insured
Insuranceline Income Protection	Finder score 8.1 Great	$10,000	Up to 75%	Up to 5 years	18	$222 million	Take out a new Insuranceline Income Protection Insurance policy and get a $100 eGift card after 4 months of cover. T&Cs apply. Ends 31 Jan 2025.	Compare	loading Fetching your data...

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 between 1 and 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 full Finder Score methodology

Insuranceline Income Protection: Our verdict

Insuranceline income protection has waiting periods starting from 14 days. That's better than the likes of NobleOak, Medibank and RAC — all make you wait a minimum of 30 days.
The policy expiry age of 65 is between 10 and 11 years more than 5 other brands we looked at.

The maximum cover level of $10,000 is probably fine for the average Aussie but if you earn more, TAL ($12,000), Qantas ($12,000) and NobleOak ($30,000) all have higher limits.

Read a more detailed review on:

Insuranceline Income Protection
Optional covers
Applying for cover

life insurance shield

Insuranceline Income Protection

Key points of Insuranceline Income Protection

Insuranceline Income Protection gives you plenty of time and financial support to get back on your feet, with the following features:

Up to 75% of your regular income benefit: Your income protection benefit from Insuranceline is paid to you as a monthly income, which is a percentage of your regular income. You can use the income benefit any way you choose, whether it be for medical bills, mortgage repayments, utility bills or every day expenses like groceries.
Choose your waiting period and benefit period: Insuranceline's Income Protection offers generous benefit periods of up to 5 years (for sickness and injury cover) giving you plenty of time to get back on your feet. Plus, with the Insuranceline Income Protection you can choose a waiting period of as little as 14 days (on sickness and injury cover).
Tax deductible premiums: Not only are the Insuranceline premiums affordable to begin with, they are generally tax deductible at the end of the financial year. This means your income protection insurance can help contribute to your refund at tax-time.
Recovery support benefit. During your initial recovery, you might be confined to your bed and unable to leave your home without help. During the first 2 months of your claim payout period, you can get reimbursed for childcare, professional nursing, professional home cleaning services, meal delivery services, laundry services and more.
Life insurance premium waiver. If you hold an Insuranceline Life Insurance and Insuranceline Income Protection Policy, the premiums for your life insurance policy will be refunded with your income protection benefit payments for up to 3 months while you're receiving Insuranceline Income Protection benefits.
Family discount. If you add another adult to your policy, you'll receive a joint policy discount.

Note: It's a good idea to check the Product Disclosure Statement (PDS) for full terms and conditions in regards to benefits and exclusions.

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Optional covers

Key points of Optional covers

Sickness and Injury Cover. Pays a benefit if you become ill or injured and unable to work. This means you are covered for many common injuries and illnesses, such as broken bones and fractures. It'll insure up to 75% of your income, with a maximum payout of $10,000 per month. Choose a benefit payout period of 6 months, 1, 2 or 5 years. Proof of income is required and the policy's expiry age is 65.
Mental health related conditions. Cover commences 6 months after the cover commencement date, including after any increases in cover.
Accident benefit option. If you select this optional extra with an existing waiting period of 14 or 28 days, your claim will be paid on the date of your accident/injury occurring, including a waived waiting period.

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

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Applying for cover

Key points of applying for cover

Insuranceline's Income Protection Cover is available to Australian residents between 18 and 60 years of age.
You must be in paid employment at the time of application, as unemployment and redundancy are not covered.
You can take out cover over the phone or send a request for more information through the Insuranceline website.
You can phone between 8am and 8pm Monday to Friday, or visit Insuranceline.com.au to find out more.
Receive 12 months of cover for the price of 11, by opting to pay your premiums annually.
A 30-day cooling-off period applies to Income Protection. If you cancel your policy during this time, you'll receive a full refund of any premiums you have paid.

Still working out if Insuranceline is right for you? Here are the main pros and cons wrapped up:

Pros

Enjoy a flexible choice of waiting periods and benefit periods
Cover 75% of your monthly income (on par with most policies)
Attractive sign up offers and you could unlock further benefit if you hold life cover with Insuranceline.

Cons

No redundancy cover
Doesn't cover people aged 61 and over
Higher benefit limits could be sourced by comparing your options.

_{Based on the Insuranceline Income Protection policy. Information last checked on August 2024. Always consult the Product Disclosure Statement (PDS).}

Your questions about Insuranceline Income Protection Insurance, answered

Just as you would find on any other insurance policy, Insuranceline's Income Protection Cover contains a list of exclusions. Under this type of policy, your claim will not be paid for claims caused by:
- Pregnancy
- Self-harm
- Drug and alcohol related sickness or injury
- Overseas travel
- Criminal activity
- In jail or lawfully detained
- War and terrorism
- Other specific exclusions you agreed to when you took out the policy.
The premium you'll have to pay for your Insuranceline Income Protection Cover will be shown on your policy schedule. Premiums will increase each year as you grow older, and will also rise in line with any increase in benefits. Similarly, if your benefits decrease your premium will be altered accordingly.
You are free to change the frequency of your premium payments at any time and they can be done via credit card or direct debit. However, your premium will be waived if you are sick, injured or involuntarily unemployed and receiving a relevant benefit.
Although your premium rate isn't guaranteed, you'll never be singled out for a premium increase once your cover has taken effect. Any premium increase will be introduced across the board for all policyholders and you will receive 30 days' written notice.
If you don't pay your premium when it is due or if it cannot be deducted from your account, then:
- If it's your first premium, your policy will not take effect.
- If it's any premium other than your first, Insuranceline will allow you 30 days from the due date to make this payment.
If Insuranceline does not receive payment by this time, you'll be sent a notice informing you that your policy will be cancelled if your premium is not paid by the due date shown in the notice.
Sickness or injury premiums are generally tax-deductible, which can help make the cost of cover much more manageable. However, remember that any benefits you receive will be assessable for taxation purposes.
Keep the following 4 points in mind regarding the claims process:
- Claim as soon as possible: Because making a claim under your income protection policy can be during a very stressful time, Insuranceline aims to keep the claims process as simple and straightforward as possible. If you need to make a claim under your policy, you need to contact Insuranceline at 1300 880 750 as soon as possible after you discover you will be unable to return to work for longer than your Income Protection waiting period.
- Supporting evidence: Insuranceline will then provide a claim form which you or your legal representative will then need to complete and then send back to the company. You'll also need to provide any other information which the company may require to process your claim, such as proof of your income or any other documents which Insuranceline requires in order to validate your claim.
- Monthly claims progress form: Every month that you are unable to return to work, in order to continue to qualify for a benefit you'll need to complete progress claim forms and send them to Insuranceline. Remember that you'll have to bear any standard cost involved in providing the appropriate documentation or information to Insuranceline.
- Additional evidence: The supporting documentation and information you will need to supply may differ depending on the claim. However, all claims will require a certified copy of the proof of age of the life insured and the completion of a progress claim form each month. Other information you could have to provide may include evidence from a medical practitioner, evidence of the date and location where an event leading to an injury occurred, and proof of income for the previous 12 months.
Once Insuranceline has received acceptable proof, your claim will be paid. However, in order to continue receiving a benefit you will need to be under the care of a medical practitioner and following their advice.

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Written by

Gary Ross Hunter

Editor, Insurance

Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

Gary Ross's expertise

Gary Ross has written 644 Finder guides across topics including:

Health, home, life, car, pet and travel insurance
Managing the cost of living

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Insuranceline income protection has one of the highest policy expiry ages available, but may not be suitable if you're a higher earner.