Income Protection

Replace up to 70% of your income if injury or sickness stops you working, so you can stay financially secure and keep up with your bills, rent or mortgage repayments.

Your biggest asset is your ability to earn

AIA Australia’s Income Protection helps replace lost income so you can focus on recovery and not financial stress. It’s ideal if you rely on your salary to support yourself or your family.
Check iconProvides ongoing monthly payments during recovery
Check iconCan be used to pay daily living costs, loan repayments, and childcare or school fees
Check iconPremiums may be tax deductible (consult a tax professional)

Income Protection (CORE) at a glance

Choose the options that fit your lifestyle and budget:
 
  • Monthly Benefit
  • Waiting Period 
  • Benefit Period 
Your premium is based on your selections, occupation, and income.
 
Plan for the unexpected. Protect your independence.

Built in benefits included in Income Protection

Recurrent Disablement

If the same condition returns within 12 months, payments can recommence without a new waiting period.

Waiver of Premium

We’ll waive your Income Protection premiums whilst you are being paid a Total or Partial Disablement benefit.

Salary increase benefit

Increase your cover by up to 15% (max $2,500) when your salary rises with no extra health checks required.

Rehabilitation Expenses

We’ll reimburse the cost of your participation in a pre-approved rehabilitation program, occupational services, aides, equipment and/or modifications.

Involuntary unemployment Waiver of Premium

We’ll waive your Income Protection premiums for up to three months if you meet the definition for Involuntary Unemployment.

Benefit Indexation

We automatically increase your insurance benefit so it keeps up with inflation and the cost of living. You can choose to opt out of the increase before your next policy anniversary.

Total or Partial Disablement

You can select from a range of benefit options providing you with a monthly payment of up to a maximum of 70% of your actual income in the 12 months prior to your claim. The benefit paid is the lesser of your Monthly Benefit and 70% of your monthly Pre-disablement Income.

Back to wellness with Embrace

Getting back to work is a vital part of recovery that can benefit your health and wellbeing in many ways. Our experienced rehabilitation team can work collaboratively with you and your medical professionals to deliver a wide range of support services all designed to return you back to wellness, back to work and back to life.

Access AIA Vitality

Attach an AIA Vitality membership to your cover and get rewarded with lower premiums, discounts and cashbacks.

How can I buy AIA life insurance?

Choose the option that best suits you

Get a quote and apply online

Explore your options, tailor your cover.

Speak to our General Advice team

They can provide a quote, answer any questions and help you with the application at no cost, 9am – 5pm, Mon to Fri, AEST. 

Speak to an AIA Financial Wellbeing planner

They can give you personalised advice tailored to your needs for a fee. Call 1800 434 044, 9am – 5pm, Mon to Fri, AEST.

Speak to a financial adviser

We can connect you to a financial adviser in your area.

Have other protection needs?

Income Protection FAQs

You may have Income Protection in your superannuation fund. However, it is not always a default option, you may have to have opted into it.

The different types of insurance cover are designed to complement each other, not replace one another:
 
  • Life Cover protects your family if you die.
  • TPD protects you if you can’t work again due to an injury or sickness.
  • Crisis Recovery helps you manage immediate medical or lifestyle costs during a major health crisis.
  • Income protection replaces up to 70% of your income so you can keep paying bills if injury or sickness stops you from working.

Income Protection provides an ongoing payment for a set period of time to cover a temporary inability to work.  TPD provides a lump sum payment due to permanent inability to ever work again.

Your Income Protection premiums are generally tax deductible – speak with a tax professional to assess if you’re eligible. Your Income Protection payments are subject to tax. 

Yes, as long as you’re working at least 25 hours per week in an eligible occupation. Income Protection can be very important for self-employed people because they can’t rely on employer funded sick leave.

Your benefit will be adjusted to ensure total payments (including offsets) don’t exceed a set percentage of your pre-disablement income. Your benefit amount may be reduced by income or payments you may receive from the following Claim Offsets:
 
  • Employer payments (excluding sick pay, annual or long service leave)
  • Business income or profits
  • Government benefits or grants
  • Compensation from legal claims or insurance, e.g.: workers compensation, motor vehicle claims
  • Other income protection or salary continuance policies
Please refer to the Claim Offsets section in the PDS for the full list of offsets.

If you choose to include Benefit Indexation, we will automatically increase your cover (Sum Insured and/or Insured Monthly Benefit) at your Policy Anniversary by the higher of the Consumer Price Index Increase and 5% for Life Cover and/or the Consumer Price Index Increase for Income Protection, every year. Your premium will also increase to account for the higher cover (Sum Insured or Insured Monthly Benefit) and your age at your Policy Anniversary.

Should you change your mind, you have a 30 day cooling off period, where you can cancel your Policy and receive a full refund of all money paid. To cancel your Policy within the cooling off period, please contact us on 1800 290 989, 9am - 5pm, Mon to Fri, (AEST).