At a glance:

  • With income protection insurance, a reliable monthly income will be paid to you if you become disabled and cannot work.
  • The importance of having an up-to-date income protection policy should not be understated


Employers are generally solid and will cover you for a few days, but it rarely goes beyond that.

If you were hit by a car, suffered a serious injury, or sustained an illness that prevented you from working for months or even years, what would you do?

Do you have enough savings to live on? Will you be able to live off government benefits?

A steady income is your greatest asset. In the event of disability or illness, Aspect Income Protection provides you with a dependable monthly income to support your family.

If you become disabled and cannot work, we will pay you a reliable monthly income.

There is no doubt that an updated income protection policy is vital, which is why we always convey this message to our clients whenever we discuss income protection insurance. Aside from the fact that it protects your most important asset, your income, it also plays an important role in optimising your benefit when the worst happens.

As it is a common occurrence for a hike in salary to occur throughout a career, you must update your income protection when such changes occur.

As we calculate your benefit (employed or self-employed), we consider your last 12 months’ income. However, you also would’ve nominated a maximum benefit based on your earnings. If your earnings increase, you will need to adjust that maximum benefit by notifying us. Otherwise, your claim will be paid on your previous, lower earnings.

If your income fluctuates, we are unlikely to be able to pay you the maximum you are covered for because we work on a 12-month average. Thus, it is important to check every year, you are not over-insured or under-insured since premiums are not refundable in this instance.

In the relevant section under policy conditions, we will explain in detail how we determine how much coverage you are entitled to, concerning the maximum amount of cover.

Aspect Underwriting provides tailored and affordable insurance solutions depending on the scenario. We can offer you a customized solution within your budget.

What’s best is that it’s fast and simple. Get a quick and easy quote on any policy through Aspect Underwriting. Within minutes, you can buy your policy online without having to meet or talk to anyone.

Mike Wallis

Mike has over 25 years experience, having spent his first seven years working as a Broker at Jardine Lloyd Thomson in Melbourne and in 2002 was transferred to JLT’s Accident and Health Department in London. For four years (2002 – 2005) Mike was a specialist A&H Lloyd’s Broker and during this time developed excellent relationships with the Lloyd’s A&H underwriting fraternity. In 2006 he returned to Australia in a senior broking position with overall responsibility for Placement Strategy, including the implementation of underwriting facilities and the various authorities granted by Lloyd’s. Mike was the underwriter at two specialist Underwriting Agencies prior to founding Aspect Underwriting in 2016.