Income Protection

Some jobs are excluded from Income Protection cover. These are:

• air traffic controller;
• earth drilling, mineral exploration, miner or person working with explosives;
• professional entertainer, such as an actor, dancer, musician and stage performer;
• fireman, police, ambulance officer and paramedic;
• fisherman;
• forestry worker;
• sex worker;
• workers in the horse racing industry such as trainer, jockey and strapper;
• workers whose work requires them to work at heights, such as rigger, scaffolder, roof worker and antenna erector;
• offshore oil rig worker;
• commercial pilot;
• professional and semi-professional sportsperson;
• security guards (other than unarmed security guards employed by an eligible UniSuper employer), doormen, bouncers and persons employed in crowd control; and • underground or underwater worker.

As well as satisfying the general eligibility requirements, you must also:

• be gainfully employed
• be performing or capable of performing all duties of the job that provides your usual income
• not be receiving, or entitled to receive, any injury and/or illness income support benefits.

If you’re not working, there are three important things to keep in mind:

• Income Protection premiums are still regularly deducted from your account.
• As Income Protection benefits are based on your previous year’s salary, your Income Protection payments may be reduced or you may be ineligible altogether.
• If we don't receive a contribution for 16 months, your cover will cease unless you’ve asked to keep it.

Yes. You can choose to have Income Protection cover up to 85% of the salary you earned over the previous year, regardless of your employment status.

Yes. You may be able to claim for partial disability claim if an illness or injury affects your ability to earn your pre-disability income. For example, you may only be able to work part-time after an injury.

Yes. PAYG tax is withheld from your monthly benefit payment.

Income Protection benefits are based on:

• your Income Protection cover amount on the date of your disability
• your income at the date of disability
• any other payments you receive while you are sick that offset your Income Protection cover.

Your income is either:

• your salary if you’re a permanent employee working 15 hours per week or more, or
• your earnings in the 12-months prior if you’re a business owner.

Income Protection payments can be offset by other sources of disability income. These include:

• workers’ compensation
• any income under any other insurance policy as a result of incapacity
• social security benefits or allowances related to your inability to work or earn income
• motor accident compensation.

Income Protection payments are unaffected by:

• investment income
• lump sum total and permanent disablement benefit, trauma or terminal illness benefits
• compensation for pain and suffering, permanent impairment, or the loss of use of a part of the body
• annual leave, sick leave or long service leave entitlements
• social security benefits and payments from Centrelink or Department of Veteran’s Affairs.

Income Protection cover intends to replace income you personally earn. This excludes income like:

• director’s fees
• commissions
• overtime payments
• bonuses, penalty
• shift allowances
• disability income
• deferred compensation plan income
• investment income.

You may be entitled to an additional payment during the waiting period if you suffer from a specific illness type. This is known as a ‘specific illness benefit’, with the defined specific illnesses being:

• cancer
• chronic liver disease
• chronic lung disease
• chronic renal failure
• coronary artery bypass surgery
• heart attack (Myocardial Infarction)
• major head trauma
• severe burns
• stroke
• total blindness
• total deafness
• transient ischaemic attacks.

The specific illness benefit is based on your monthly benefit amount, less 10% of your pre disability income where your monthly benefit amount is equal to 85% of your pre-disability income.