Income Protection insurance provides a regular monthly income of up to 75% of your gross salary should you become temporarily ill or injured and are therefore unable to work.
With Income Protection insurance, your cover will commence from your first day at work (if your employer is a ) or from the first day cover is approved. Then, you are generally eligible for Income Protection payments if you:
- Are unable to perform at least one income producing duty of your normal occupation;
- Are under the regular care of, and following the advice of, a medical practitioner; and
- Are not working in any paid or unpaid occupation.
Payment of the Income Protection benefit commences after you have been off work for sixty days, and is payable for a maximum of two years.
