Compare Income Protection Insurance

compare up to 10 different insurance providers To find the best income protection policies to suit you
Income Protection comparison
Compare Income Protection Insurance

Regular payments can help you to meet living expenses and maintain your standard of living during periods you are without your income.

An income protection policy with a benefit period to age 65 can provide long term financial security and wealth protection (unlike a 6 or 12 month benefit period which will give only short term bill relief).

A popular misconception is that income protection policies provide a benefit if you are made redundant or involuntarily unemployed – this is not usually the case. There are other options you can look at for covering your mortgage repayments against redundancy.

Compare income protection insurance quotes online & receive 10% Cashback*

If you compare income protection insurance quotes online and buy a new policy through Insurance Watch we will refund 10% of your premiums paid in the first year of your policy (or provide an ongoing 5% discount if you prefer).

Find out more about the Insurance Watch 10% Cashback* Offer.

Learn how by shopping around you could save up to 60%.

If your cover will be needed long term, there could be savings taking out a level premium vs a stepped premium.

What are the important benefits of income protection insurance policies?

Insurance Watch doesn’t just compare quotes, we also compare benefits, as income protection policies vary widely in the benefits that they offer.

Most insurers offer basic and comprehensive policies. The best income protection insurance policies for definitions and benefits are therefore unlikely to be the cheapest. See our tips and traps when buying income protection insurance.

We compare 16+ income protection policies highlighting what to look for when comparing policies such as:

  • Differences in the definition of total disability e.g. “Own Occupation” cover changing to “Any Occupation” after 2 years on claim
  • Waiting period requirements
  • Differences in partial disability definitions
  • Flat 70% cover or a reduced % after 2 years on claim
  • Additional benefits offered
  • Options available at an extra cost
  • Star ratings based on product features and benefits
  • Full Product Disclosure Statements from the insurers

If you are looking to keep costs down, but still have good quality income protection, see our 20 tips to lower income protection insurance premiums. For example, you could save up to 40% just by extending the waiting period on your policy.

We also compare the insurers offering income protection insurance

Using claims statistics from ASIC and APRA we compare insurance companies based on:

  • Income Protection claims acceptance rates
  • Average claim time in months
  • Number of income protection claim disputes (per 100,000 policies)

Ratings based on 1,500+ customer reviews show which insurers are best for:

  • Customer service both during and after an income protection insurance application
  • Income Protection claims experience

Compare insurance companies based on their:

  • Size
  • History
  • Ownership
  • Most recent awards

Related Topics: