How Income Protection Comparison Works

What Should You Compare Before Choosing Income Protection? 

Can Income Protection Be Held Through Super?

Some Australians hold income protection insurance through their superannuation fund. This can be convenient because premiums may be deducted from the super balance rather than paid directly from personal cash flow.

However, it is important to consider:

• Whether the benefit amount is enough
• Whether the waiting period suits your needs
• Whether the benefit period is appropriate
• Whether premiums reduce your retirement savings
• Whether the policy definitions suit your occupation
• Whether personal ownership may offer different options

Before applying for new cover, it can be useful to check what income protection insurance you already have through super. It is possible for you to structure your income protection compared here, to be paid via your superannuation.

Income Protection Insurance FAQs

Can I compare income protection insurance online?
Yes. JIC Insurance’s online comparison tool allows you to compare available income protection options from a range of leading Australian insurers.

What does income protection insurance cover?
Income protection is generally designed to provide a monthly benefit if illness or injury prevents you from working, depending on the terms of the policy.

What affects income protection insurance premiums?
Premiums may be affected by factors such as age, occupation, income, smoking status, health history, waiting period, benefit period and monthly benefit amount.

Can income protection be held through super?
In some cases, income protection may be held through superannuation. It is important to compare the cover amount, policy terms, premiums and whether the structure suits your needs.