Considering a life insurance policy?
We can help. Easily compare from 20+ insurers to find a policy that meets your needs.Based on the policies Canstar assess, we have estimated that – assuming that you are a 30 year-old non-smoker wanting income protection cover of $4,000 per month, with a 30 day wait and a benefit period of two years – you could expect to pay the following annual premiums for income protection insurance that you obtained through a financial adviser (Advised Income Protection):
| Occupation | Male | Female |
| Pilot |
$1,008 |
$1,436 |
| Baggage Handler |
$1,308 |
$1,803 |
| Air traffic controller |
$1,719 |
$2,438 |
| Building Foreman / Supervisor – licensed |
$783 |
$1,118 |
| Carpenter |
$865 |
$1,228 |
| Earthmoving Equipment Driver / Operator |
$1,294 |
$1,822 |
| Lecturer |
$419 |
$620 |
| Teacher |
$497 |
$707 |
| Child Care Worker |
$697 |
$991 |
| Doctor |
$452 |
$638 |
| Registered Nurse |
$855 |
$1,213 |
| Paramedic |
$1,052 |
$1,511 |
| Restaurant manager |
$759 |
$1,065 |
| Chef – qualified |
$842 |
$1,194 |
| Kitchen Hand |
$1,142 |
$1,623 |
| Mining – Engineer – above ground |
$643 |
$922 |
| Mining – underground – Skilled Tradesperson – No explosives |
$1,226 |
$1,727 |
| Supermarket Manager – full time |
$732 |
$1,027 |
| Shop Assistant – Supermarket |
$920 |
$1,239 |
Source: Canstar Advised Life Insurance Star Ratings, 2014.
The above quotes are based on a monthly income protection benefit of $4,000, so obviously the amount for which you insure will affect the cost. And of course it’s crucial to consider the income protection policy inclusions: not all policies are created equal! You can compare Advised income protection policies here.
This is different to income protection that you can buy directly from the provider.
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