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.
It’s up to you how you use your monthly payment, it might help cover:
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
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.
You might also be interested in
Insurance to protect against accidents only ('Accidental Injury Insurance')
You could receive an upfront lump sum payout rather than a monthly benefit.
You might also be interested in
Insure your business's contents and stock against loss, theft or damage
How to claim in 3 easy steps
1. Call us
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 replaces some of your income if you’re unable to work due to sickness or injury. You can choose the proportion you wish to insure up to a maximum of 75% of your income, up to $10,000 per month. You also choose the maximum amount of time you would receive monthly payments - either 1 or 2 years.
As long as you pay premiums and continue working, the cover is in generally in place until you’re aged 65.
Refer to question 9. “How long does Income Protection last for” for further details.
You can choose the monthly benefit to apply for up to a maximum of 75% of your taxable monthly earnings, up to $10,000 per month for Income Protection and $4,000 per month for optional redundancy cover...
We’re sorry you’re thinking of cancelling. For policy cancellations or to discuss your situation further, please call us on 13 22 44. If you do cancel, you may qualify for a refund for the unexpired portion of the premium less our cancellation fee and any non-refundable government charges (if applicable).
Depending on your individual circumstances, income protection premiums are usually tax deductable if you’re working, which means you could save at tax time.
Claiming is easy, simply contact us on 13 22 44 as soon as you need to claim, we are available 24/7.
You will need to complete a claim form and provide other documents including your passport/identification, financial documents and medical notes.
Full details about the information you need to provide are outlined in the claim pack we will send to you.
1. Includes customers of both AAI Limited and Suncorp Life & Superannuation Limited which hold AAMI branded products
2. Eligibility criteria and policy terms apply.
AAMI Life Insurance and Accidental Injury Insurance are issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (SLSL) and are distributed by Suncorp Financial Services Pty Ltd ABN 50 010 844 621, AFSL 229885 (SFS) under the AAMI brand. AAMI Income Protection is issued by SLSL and distributed by SFS under the brand, AAMI, and AAI Limited ABN 48 005 297 807, AFSL 230859 (AAI), who only issues the redundancy benefit. AAI trading as AAMI does not provide any financial product advice in relation to AAMI Life Insurance, Accidental Injury and Income Protection (except in relation to the redundancy benefit). Eligibility for cover and the payment of any benefit are subject to the relevant terms and conditions including no claim and waiting periods, exclusions, limits and eligibility conditions.
Suncorp 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 firstname.lastname@example.org or visit www.fsc.org.au
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