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Did you know...Insurance via Super

Income Protection

Income Protection Insurance provides you with regular income payable as a monthly benefit if you are unable to work due to sickness or injury.



This is probably the most essential type of insurance cover because your income determines your standard of living, your ability to build wealth and your capacity to provide for retirement.

The amount of cover is usually restricted to 75% of your gross salary. Premiums are tax deductible for most taxpayers and the income is assessable because it replaces lost assessable income.

The choice of cover depends entirely on your individual circumstances.

Agreed / Guaranteed Value This means that your monthly benefit is agreed at the time of your application and is based on your income at that time. You will need to produce financial evidence at time of application.

Indemnity This means that you will need to produce financial evidence at the time of claim. The amount payable maybe less than the amount showed on your policy schedule.

As with all Income Protection policies, you nominate the following:

Waiting Period This is the period you wait before the benefit period commences. Usually, the longer your waiting period, the more affordable the premium. Waiting Periods to choose from;

  • 14 Days

  • 30 Days

  • 60 Days

  • 90 Days

  • 180 Days

  • 1 Year

  • 2 Years

Benefit Period This is the maximum period of time that you will be paid your benefit for any one illness or injury whilst you / the life insured is disabled. Benefit Periods to choose from;

  • 2 Years

  • 5 Years

  • to Age 55

  • to Age 60

  • to Age 65

  • to Age 70

You may also be able to take out Income Protection through your Super fund, allowing you to maintain your cashflow. Because of the number of choices, advice from your qualified PlanSmart adviser is essential.


Contact us to find out more or to discuss your Insurance options.


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PlanSmart Pty Ltd (ABN 15 142 298 208) Authorised Representative (No. 345551) of
Synchronised Business Services Pty Ltd T/as Synchron ABN 33 007 207 650
Australian Financial Services License No. 243313

Disclaimer: The information contained within the website is of a general nature only. Whilst every care has been taken to ensure the accuracy of the material, PlanSmart Pty Ltd will not bear responsibility or liability for any action taken by any person, persons or organisation on the purported basis of information contained herein. Without limiting the generality of the foregoing, no person, persons or organisation should invest monies or take action on reliance of the material contained herein but instead should seek advice or satisfy themselves independently of the appropriateness of such action.