Income Protection
Income protection protects up to 70% of your active income in the event of illness or injury prevents you from working in your occupation temporarily or a set period. IP supports you by paying a monthly benefit which can be used for loan repayments, children's education, daily living expenses and so on, giving you a peace of mind to focus on what matters most – your health and recovery.
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General advice only. We help you understand your options — you make the decision.
What Is Income Protection?
When illness or injury prevents you from working in your occupation, you will receive a monthly payment up to 70% of the annual income.— it replaces income, not a diagnosis event.
Income Protection that is held outside super is generally TAX DEDUCTIBLE. While you are on claim, the premium will be waived too.
Hippo Wealth compares IP Cover across all major Australian insurers — TAL, AIA, MLC, Zurich, ClearView, and more — so you can see every option clearly before making a decision. No fees, no pressure.
What Does Income Protection Include?
Provides financial support in the event of not being able to work due to injury or illness. Life insureds can insure up to 70% of their annual income.
Daily living & household expenses
Groceries, utilities, insurance premiums, everyday bills. Maintaining your cash flow and lifestyle without drawing down savings during months or years off work.
Debt servicing
Keeping up minimum repayments on car loans, credit cards, personal loans — avoiding default or damaged credit during a period without income.
Mortgage Protection
Ongoing mortgage or rent repayments — not paying off the loan (that's more a trauma/lump-sum use), but keeping up the monthly repayments so the home isn't at risk while income has stopped.
Superannuation continuity
Some policies pay a portion of the benefit directly into your super fund on top of the cash payment, so retirement savings keep growing even while off work.
Family & dependents' Funding
School fees, ongoing childcare, and general dependant costs continuing uninterrupted during a parent's illness or injury
Supporting a family that relies on a single or primary income earner
Practice overheads (business owners)
For a GP or dentist who owns their practice, replacing personal drawings so rent, staff wages and equipment finance can still be met without dipping into business reserves
Who Should Have Income Protection?
Income protection is essential for anyone whose heavily depends on their income.
Here are the most common groups we help:
Families With Mortgages
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Homeowners with dependants
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Couples with shared mortgages
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Parents of young children
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Multi-income households
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Young Professionals
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Early-career professionals
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New parents
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First-time homebuyers
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Couples planning families
02
Business Owners
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Sole traders
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Business partners
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Directors with staffs
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Practice owners
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How Much Does IP Cover Cost?
IP premiums vary based on several factors. Your actual cost depends on your individual circumstances.
Your Age
Younger applicants typically pay lower premiums than older applicants.
Health History
Pre-existing conditions may affect your premium or eligibility.
Smoker Status
Smokers typically pay 2-3x higher premiums than non-smokers.
Cover Amount (your cover amount)
Higher insured monthly benefits mean higher monthly premiums.
Occupation
High-risk occupations may have higher premiums.
Gender
Males generally pay lower premium than female applicants for Income Protection
Waiting Period
This is the time between when you stop working due to illness/injury and when payments actually start. The shorter the waiting period, the higher the premium will cost.
Benefit Period
This is how long payments continue once a claim is accepted and you remain unable to work. Typically two years, five years, or up to age 65.
3 Easy Steps To Get Covered
Compare
We compare Trauma policies across Australia’s leading insurers, tailored for medical and dental professionals. You receive a clear, side-by-side summary of cover, definitions, exclusions, and premiums; all in plain language. This is general advice: you see the full market, not a single recommendation.
Confirm
You review your options and choose the level of cover that suits your needs — from protecting your family to clearing debt.
We’re here to answer questions, but the decision is entirely yours. No obligation to proceed.
Complete
Once you’ve selected your cover, we manage the full application process — including underwriting, medical disclosures, and policy setup. We handle the details, keep you informed, and ensure your cover is active when you’re ready.