An income protection insurance policy is a product that replaces the majority of your income if you’re unable to work temporarily due to illness or injury. Protecting your annual income is at the heart of sound, financial planning. The reality is that it is possible that you’ll suffer from a health condition during your working career that may prevent from working beyond any sick leave entitlement you have and put a strain on your finances. The question then becomes, can you afford your current lifestyle of supporting your family, paying rent and bills with no income for an extended period? If you’re in this unfortunate position, having your income protected provides you with significant peace of mind and allows you to focus your energy on your recovery.

Backed by Lloyd’s, the world’s specialist insurance market, we offer one of Australia’s best income protection insurance online products. Whether you’re a blue or white-collar worker, this policy covers most occupations and can provide you with  up to 85% of your pre-disability income.

When purchasing this policy, you’re typically required to go through various medical tests and rounds of consultations with insurance agents before finalizing your  cover. Our end-to-end online quoting and purchasing system cuts this out completely. Using our service, you can get a quick quote and be fully covered within 10 minutes – without ever calling or meeting us! 


The cost of your income protection policy depends on a wide range of variables including but not limited to; your benefit period; waiting period and the percentage of your income you want to cover. Our easy-to-use online income protection quote generator offers detailed cost and premium breakdowns. Click the button below to get an income protection insurance online quote now.


  • Coverholder at Lloyd’s of London
  • Personalised, friendly service – you’re dealing directly with the owners.
  • From a quote to fully covered in under 10 minutes, no phone calls required.
  • The world’s specialist insurance market.
  • We can cover up to 85% of your income and offer the highest levels of cover in the market.
  • Deal directly with ownership; no cheesy sales staff!


  • Combine
    These Addons


What is the difference?

This policy can also be known as Salary Continuance (SC) or Total Temporary Disablement (TTD), but they all offer the same protections.

The major areas of choice when designing this policy are:

  • Waiting Period (usually 14, 30, 60 or 90 days)
  • Benefit Period (usually 1, 2 or 5 years or ‘To Age 65’)
  • Percentage of your income (usually 75%, Aspect offers up to 85%)
  • Maximum Benefit – Some insurers will cap your benefit, regardless of how much you earn. Our policy pays up to $42,000 per week, as long as your income justifies it, for the nominated waiting period.

As a specialist insurance agency in Australia, we offer customised income protection covers to our clients tailored to their specific needs.

What is covered?

While requesting quote for this policy, you must understand that you can be only covered if an illness and/or injury prevents you from working after the expiry of your selected waiting period. It does not cover involuntary unemployment or redundancy.

Here are some situations in which you would not be eligible to claim policy benefits:

  • Your disability is due to you deliberately exposing yourself to unnecessary danger/harm.
  • Your disability is as a result of self-inflicted harm or an attempt to commit suicide.
  • Your disability is due to pregnancy unless it’s a complication that occurs within the first 33 weeks of pregnancy.
  • Your disability is related to professional sports, war or any pre-existing condition.
  • Your disability is due to an elective surgery (unless you’ve purchased the additional benefits bundle as part of your Aspect Income Protection cover).

Read our PDS for further details, or contact us.


What is the waiting period?

This insurance policy comes into effect on the day you choose, but you start receiving policy benefits, if eligible, after your waiting period is over. A waiting period is the duration of time the insured must be unable to work before a claim can commence.

Aspect offers four waiting periods to choose from. You can choose from either 14, 30, 60 or 90-day waiting periods. Suppose you chose a 14-day waiting period, you will start receiving policy benefits from the 15th day of being unable to work. You won’t be paid for the first 14 days of your disablement.

For shorter waiting periods, the premiums will be higher, which will help reduce the reliance on your savings and annual leave. If you choose longer waiting periods, the premiums will be lower, which will increase your dependence on your savings or annual leave.

What is a benefit period?

A benefit period is the period during which you will be paid benefits by the insurer. The benefit period starts after the insurer has verified your claim and your selected waiting period is over.  This cover offers the option to choose a benefit period of 1, 2 or 5 years.

For instance, if you have selected a 1-year benefit period, you will receive benefits for a year after your waiting period is over. The longer your benefit period is, the higher your income protection premium.

Some insurers offer a ‘To Age 65’ benefit period which pays you a benefit until your retirement age. Aspect does not offer this benefit period. The cost is significantly higher and may not be worth your while. After all, it’s likely that a medical condition that keeps you off work for 2-5 years will result in total permanent disablement. Therefore, a Total & Permanent Disablement insurance policy coupled with a two or five-year Income Protection policy may be best suited for you.

These Addons

What other insurance products can I purchase?

This cover can be purchased as a standalone product or can be combined it with any or all of the following insurance products:

Trauma Insurance

Trauma insurance provides you with a lump sum payment, payable on diagnosis, if you suffer a serious medical condition like a heart attack, stroke or cancer. The sum insured could range from $50,000 to $500,000, depending on whether it’s a standalone cover or purchased in conjunction with other products.

Total & Permanent Disability Insurance

Total and Permanent Disability insurance pays you a lump sum amount if you suffer from a severe illness or injury that restricts you from working permanently. Aspect TPD cover is available for wide range of occupations. Whether you are in a white blue-collar worker, we cover the majority of professions. Insure for up to $1,000,000 benefit cover. 

Accidental Death Insurance

Accidental Death Insurance (death by injury) is an easy and low-cost alternative to Life Insurance (death by any cause), or a good way to supplement an existing life benefit. Accidental death cover will pay your estate a benefit amount upon your death as a result of an accident/injury.  Generally, the sum insured would be $100,000 to $1,000,000, depending on your circumstances.


Provide notice to us as soon as reasonably practicable of any injury or illness.

Submit your claim form and supporting documents.


Sometimes they do as part of your employment conditions, often in Enterprise Agreements (EAs) negotiated between your employer and the Union. This is more common in blue-collar industries such as construction, manufacturing & mining.
Income protection is available in most super funds, but usually, you need to opt-in to receive the cover. More than 50% of super funds do not provide the cover automatically. You should contact your super fund to confirm.
No, it doesn't. Income Protection insurance policies cover you only if injury or illness prevents you from attending work. It does not cover you if you lose your job for non-medical reasons.
The definition varies from one insurer to the next. A pre-existing condition is usually defined as something you have had, had treatment for, or advice from a medical practitioner in the 12 months prior to purchasing your policy. Some policies exclude the condition permanently, and others will agree to cover the condition after you have been insured for two or three years.
Some insurers will agree to insure you without medical information, but only if you accept an exclusion relating to pre-existing conditions. The upside is an immediate cover, and if you do not have any pre-existing conditions, you will have full cover. Alternatively, you go through the medical underwriting process with the insurer, and they will determine from these results how much cover they'll provide you with and possibly exclude specific conditions.
Occupations play a role in determining the risk and therefore cost of this type of insurance. If you don’t select an accurate description of your occupation, when you come to claim, your insurer may decline your claim and even void your policy due to fraudulent disclosure.
Policies providing income protection insurance pay a benefit based on your actual income. There is no point buying cover for a higher income than you earn as you’ll only ever receive the nominated percentage (75% or 85%) of your actual income, usually averaged over the previous 12 months and/or as declared on your most recent tax return.
Yes. Income Protection policies cover you 24/7 whereas WorkCover only covers you whilst you’re at work. An Income Protection policy can also top-up WorkCover payments if the WorkCover benefit you receive on claim is less than your Income Protection policy benefit.



    Insurance Insights

    Want to know more about the latest in the income protection insurance industry?
    Click through to any of the articles below.

    Disclosures & Important Notices:

    The advice provided on this website does not take into account any of your personal objectives, your financial situation or your needs. For this reason, before you act on the advice you should consider its appropriateness, taking into account your own objectives, financial situation and needs. Before you make a decision about whether to acquire any Aspect Products, you should obtain and read our Product Disclosure Statement (PDS). This PDS contains terms, conditions, and exclusions about our A&H insurance products. If necessary, please seek advice from a Financial Adviser or a qualified Insurance Professional before deciding on appropriate insurance cover.

    As prescribed by the Australian Government and as required under the Insurance Contracts Act, we advise you go through the Key Facts about your Personal Accident & Illness Policy here.

    We would also like to draw your attention to our Important Information provided here. You must be aware of this information when entering into the initial insurance contract, and when reinstating, or varying that insurance contract.

    Our financial service guide (FSG) contains important information about the services we offer you; how we and our associates are paid; any potential conflicts of interest we may have; and what to do in the event of a complaint. Find Aspect Underwriting FSG here and Aspect Broking FSG here.

    The Trustee for Wallis Family Trust t/as Aspect Broking is a Corporate Authorised Representative (CAR No. 1247437) of McLardy McShane Partners Pty Ltd; AFSL 232987, ABN 14 064 465 309. At McLardy McShane Partners Pty Ltd, we are committed to protecting your privacy in accordance with the Privacy Act 1998 (Cth) and the Australian Privacy Principles. Read the Aspect Broking privacy policy here.