Guides

It is one of our aims to educate our clients on the importance of financial protection and the options available on the Australian market.

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Below are the main topics we often discuss with our clients. We hope our income protection guides offer insight and help answer any questions you may have. If you have a question about income protection cover please contact one of our financial advisers on 1300 135 205 and let us guide you in finding the right policy for you.

Benefits of income protection


Income protection insurance covers you for 75% of your income should you suffer from a sickness or accident and be unable to work.

Income protection insurance premiums are one of the few policies that are fully tax deductible.

Sickness and accidents do occur, and protecting yourself from the unexpected can help ensure your finances aren’t left in dire straights.

A claim benefit payment can help cover:

  • Mortgage repayments
  • Rent
  • Day-to-day living expenses
  • Medical costs

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Who needs income protection the most?

If you or your family relies on your income, then income protection is for you.

Think of it this way, if you suddenly suffered an injury or illness and couldn’t work, could you cope financially? Could you pay for your bills and living expenses for a long period of time? If the answer is ‘no’, it is vital to get adequate income protection insurance to cover that risk.

ComparingExpert comparison service

Our award winning service is backed by a responsive team of financial advisers and customer service staff. We offer the following:

Free comparison of Australia’s top policies
We’ll discuss the top policies to suit your particular situation, and help you understand any jargon.

Free annual policy review
We’ll conduct an annual comparison to ensure your policy is still competitive. We’ll then call you to discuss your options, and whether you need to update your details or levels of cover.

Free claims management
If you need to make a claim we’ll:

  • take you through the claims process
  • help you fill your claim form properly and outline any additional documentation you may need
  • speak to the insurer on your behalf to ensure best claims outcome
Find out how much you could save on your income protection today.

Income protection for specific occupations


Different insurers offer income protection policies more tailored towards certain occupations or industries. They do this by offering certain benefits or options for specific occupations, or by offering specific coverage for those in certain occupations or industries.

Tailored income protection insurance policies or particular benefits are available for the following occupations or industries:

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Tradies & Construction Workers

Since some work sites require mandatory cover some insurers have created policies geared towards tradies & construction workers. Apart from the standard benefits, the following are specific benefits or options offered by Australian insurers for these types of occupations:

  • Specific injuries benefit
  • Accident benefit option

If you are a contractor or self-employed person with a fluctuating income, we can advise you on the best policy structure to suit the nature of your job. Doing this can maximize benefit payments at claim time.

Miners, Oil & Gas Industry Workers

As one of Australia’s main industries, competitive rates are available for mining, oil & gas industry workers. To meet demand, select insurers have created policies geared towards people in these industries. For a quick quote please have information about your job ready when calling us, including your title, duties, and hours worked in a standard work rotation.

Doctors, Surgeons, Dentists & Medical Attendants

Competitive rates are available for those in the medical industry. If you are a general practitioner or dentist with your own practice, we can also explore best policy structures to suit the nature of your job. Specific benefits or options for this occupation include:

  • Needle-stick cover
  • Cover for occupationally acquired blood born diseases such as HIV, HEP B & C
  • Non-offset clause (doctors, surgeons, dentists)

Lawyers, Solicitors & High Earning Executives

The main benefit for these specific occupations includes the ‘non-offset clause’. This particular clause can potentially increase your benefit at claim time. Please contact one of our financial advisers for more information.

Farmers

Due to the seasonal nature of farming and agricultural work, fluctuating income is one of the many hurdles that Australia farmers face. To reduce this burden, select insurers now calculate benefits on the basis of 30% of the farm’s gross turnover.

The other option available is to calculate your benefits based on your net income.

We can discuss the pro’s and con’s of each option and help you decide on the best choice for your farm.

Past times

If you are looking for a life insurance or income protection policy that will cover a specific past-time, ComparingExpert can help.

Our deep knowledge of all policies available on the Australian market means we can help you find the right plan. Whether you play sports, or engage in higher-risk activities, our advisers will discuss your options in an easy-to-understand manner to ensure maximum coverage.

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Income protection can cover sports related injuries from playing:

  • Rugby
  • AFL
  • Football
  • Soccer
  • Netball
  • Softball
  • Baseball

ComparingExpert also negotiates best possible rates and level of coverage with Australian life insurance companies for injuries related to higher-risk past-times such as:

  • Motorbike riding
  • Trail bike riding
  • Sky diving
  • Base jumping
  • Rock climbing

If your sport or past-time is not listed here, please call our advisers on 1300 135 205 so we can help negotiate a life insurance or income protection insurance deal for you.

About ComparingExpert’s Income Protection Comparison Service

Our income protection comparisons are thorough, and take into consideration your situation and personal needs. We pride ourselves in providing you with quality service and advice. If there is anything you need to know about income protection insurance in Australia, do not hesitate to contact our friendly advisers.

Find out how much you could save on your income protection today.