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Trusted by 2.8 Million Australians1

Income Protection Insurance

Now with optional redundancy benefit. Keep your life on track if you are unable to work due to sickness, injury or redundancy.

Why is Income Protection important?

Income Protection is designed to help you get back on your feet, covering 75% of your monthly income up to $10,000/month if you’re unable to work due to sickness or injury. We’ll pay a monthly benefit into your bank account or credit card so you’re able to stay on top of bills and maintain your lifestyle while focusing on your recovery.

Adding optional redundancy cover could help extend your AAMI cover by having a benefit that pays out 75% of your income up to $4,000/month for up to three months while you are out of work due to involuntary unemployment. A no claim period and a waiting period apply to this benefit.

Want to learn more about Income Protection? Watch this 60 second video to learn more

It’s up to you how you use your monthly payment, it might help cover:

Rent or mortgage payments

Bills and credit card repayments

Childcare and school fees

Or even basics like food, clothing or petrol

What's included?

Features and Benefits

  • Cover up to 75% of your monthly income

    Get a monthly payment if you’re off work due to sickness or injury. Insure up to 75% of your monthly income up to $10,000 per month.

    Optional Extra: Redundancy Benefit

    Cover for 75% of your income up to $4,000/month - for a maximum of 3 months - while you are involuntarily unemployed.

  • Choice of disability benefit payout period

    People who are seriously ill or injured require extra time to recover. AAMI offers you a choice of 1- and 2-year benefit periods for Income Protection.

  • Do it all online with no medicals required at application

    Apply in minutes and if you qualify get immediate cover. All you need to do is answer a few simple questions about your health and lifestyle.

  • 24 hour worldwide cover

    We cover you when you’re at work, outside of work, and even overseas. See Product Disclosure Statement for more details on cover while overseas.

  • Pay no premium while you're receiving benefits

    To help maximise your income so you're able to stretch every dollar further, we waive your premiums while you're claiming.

  • Disability benefit guaranteed up to age 65

    Guaranteed renewal until you turn 65 2 , unless your cover stops earlier. Plus increase or decrease your disability cover amount with no waiting times.

  • Easy claims process with a dedicated claims manager

    Claiming is quick and simple, just call 13 22 44. A dedicated claims manager will oversee your claim from the moment you call us through to when we pay out your claim. View our claims process and what you’ll need.

This is just a summary. For full details about what is and isn't covered, check the PDS (Product Disclosure Statement) or Financial Services Guide for such things as when you may or may not be eligible for a benefit such as the redundancy benefit (if applicable), and waiting and no claim periods, payout limits and exclusions. It's dry, we know, but essential reading.

Applying is quick and easy
  • No lengthy forms or medicals
  • Get a quote in 30 seconds
Get a quick quote

Life Insurance Guide
Unsure what you need?

Look at ways to protect yourself depending on your circumstances

Select what best sounds like you

I am young & single

I am in a couple

I have kids at home

I am mature & single

My kids have left home

What's not covered?

Unfortunately some events will not be covered by your policy


Income Protection with optional redundancy cover is designed to help you get back on your feet if you are sick, injured or involuntarily unemployed. If you are interested in death cover then you might be interested in our Life Insurance.

Some medical conditions

There are a small range of conditions which are not covered under the disability benefit in Income Protection. Read the Product Disclosure Statement or call 13 22 44 for more information about this.

Download PDS

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How to claim in 3 easy steps

In the unfortunate event that you need to make a claim, we're here to ensure you receive the help you need as quickly and painlessly as possible. We're here to help.

1. Call us

Call us on 13 22 44 as soon as possible after the event

2. Receive a claims pack

We will send you a claims pack to fill in

3. Complete form

Send us the completed claim form & requested information

Income Protection

Frequently asked questions


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Call 13 22 44 if you have any questions
  1. Includes customers of both AAI Limited ABN 48 005 297 807, AFSL 230859 (AAI), which is part of the Suncorp Group of companies and Asteron Life & Superannuation Limited (Asteron) which hold AAMI branded products. Asteron is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). Asteron is authorised to use the AAMI brand. The Suncorp Group is a distributor of life insurance provided by TAL.
  2. Eligibility criteria and policy terms apply.

Asteron supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email or visit

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