Income Protection Claims Australia
Our Australian lawyers can help you make an income protection claim.
If you need legal advice on your entitlements to income protection, then contact us today, and we will refer you to an Australian insurance lawyer in your State. Our referral service is free to use. You can access obligation-free advice by completing the online Contact Form. Alternatively, contact us through our free helpline on 1800 352 100.
- What is income protection?
Income protection insurance provides an income stream in the event that you are unable to work because of illness or injury. Benefits are usually paid on a monthly basis, and are restricted normally to about 75% of your gross salary. An overall maximum may also apply, for example $250,000, however, a lump sum payment is not available with this type of insurance.
Your policy will specify the period over which the benefit is paid, for example some policies state that you will be paid over a 2 year period, whilst other policies provide for continuous payment up until a certain age such as 65.
Income Protection policies usually provide a wide range of coverage, so you could be entitled to payments for temporary illnesses like a back injury, or psychological stress, as well as more permanently disabling conditions such as motor neurone disease, MS, loss of a limb.
Depending on the wording of the policy, you might be covered if you cannot do your usual job, or one of the duties of your job, or any other suitable work.
You may also be able to make a partial disability claim, and still go back to work.
You will probably need to serve out a waiting period before you can make a claim - i.e. how long can you be off work before you require the income payments commence. Generally the waiting periods range from 2 weeks to 2 years.
- Examples of companies offering income protection insurance
AXA, Asteron Life, Australian Income Protection, AVIVA, AMP, BT, CBus, CGU, Colonial First State, Comminsure, Hesta, HBF, HSBC, ING, Macquarie Life, Metlife, MLC, MBF, NAB, Suncorp, Teachers Credit Union, Tower, VicSuper, Westpac, Zurich.
If your claim is rejected, if your insurance payments stop, are late or reduced, you can lodge a formal complaint with the insurer. We suggest that you also obtain legal advice as soon as possible. Contact us today to find out more.
LEGAL HELPLINE: 1800 352 100
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