Insuranceline Income Protection Insurance

Insuranceline is a provider of income protection insurance, as well as life insurance, funeral insurance and pet insurance.

Compare Insuranceline income protection

Considering Insuranceline income protection insurance? The table below displays a snapshot of Insuranceline income protection policies on Canstar’s database, sorted by star rating. These results are based on a 30-39-year-old non-smoking male in a medium blue-collar occupation, such as trades.  

Click here to compare more policies based on your circumstances.

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What income protection does Insuranceline offer ?

At the time of writing Insuranceline offers 2 income protection insurance policies which provide cover for a variety of conditions that may prevent you from working. The first is their Ratesaver policy which covers up to a $10,000 benefit per month. If you’re unable to be covered under the Ratesaver policy due to health, lifestyle or occupation, you’ll be able to take out the Timesaver policy which covers up to a $7,500 benefit per month.

What features does Insuranceline income protection offer?

The Ratesaver and Timesaver policies offer the following features:

  • The choice of a payout period of either 6, 12, or 24 months, or 5 years for a Rate Saver policy, or 6, 12, or 24 months for a Time Saver policy
  • 30 day money-back guarantee
  • Phone-based support and an easy-to-apply online process
  • Other features, such as a month for free if you choose to pay your premiums annually
  • Option to add involuntary unemployment cover (up to $3,000), permanent disability cover, holiday injury benefit, kids’ injury cover and homemaker cover.

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What does Insuranceline income protection cost?

The cost of your income protection insurance will vary depending on several different factors such as:

  • Your age and gender
  • Occupation
  • Whether you’re a smoker or a non-smoker
  • Benefit period and waiting period

You can customise your policy to suit your specific needs. Get a quote for Insuranceline income on its website before applying to see what you might need to pay.

In 2018, Canstar’s research team calculated the average monthly income protection premiums for non-smoking male and female workers aged 27 and 52. Click here to see how the premiums differed.

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Insuranceline FAQs

The ATO (Australian Taxation Office) states that you can claim the cost of premiums you pay that cover the loss of your income. You can’t, however, claim a deduction for premiums that compensate you for physical injury or are taken out through your super fund. Ask your tax accountant or financial adviser for more details on this.

Generally speaking, premiums for other forms of life insurance such as term life insurance, TPD insurance or trauma insurance may not be tax deductible.

Insuranceline advises that their income protection insurance premiums are generally tax deductible.

Lodging a claim for income protection with Insuranceline is a straightforward 3-step process.

  1. Contact Insuranceline: Call Insuranceline on 13 77 87 and let one of their customer service representatives know you’d like to make a claim. Make sure you have your policy number and details of your diagnosis and date you stopped working.
  2. Submit claim:  You can find all the information and forms you need to fill out to lodge a claim on the Insuranceline website. You can choose to either fax (1800 245 662), email (claims@insuranceline.com.au) or mail your documents to:

Insuranceline claims

Reply Paid GPO Box 5380

Sydney NSW 2001

  1. Approval: Insuranceline will assess your claim and let you know of the outcome. Once the waiting period expires, and your claim has been approved, you’ll receive your benefit.

You can apply for Insuranceline income protection after comparing your options in Canstar’s comparison tables and generating a quote on Insuranceline’s website.

Insuranceline may ask you:

  • Your name, date of birth and gender
  • Your smoker status
  • Your occupation details (salary, how many hours you work etc.)

Insuranceline’s PDS document states that you must satisfy the following criteria to be eligible for an income protection policy:

  • You must be at between 18 and 60 years old
  • Australian resident or a New Zealand citizen living in Australia on a permanent basis

Writers: this will likely vary so please check with each Insuranceline page

Established in 1999, Insuranceline is backed by TAL insurance and has provided cover for more than 750,000 Australians.

With over five and a half million families living in Australia, Insuranceline goes by a simple philosophy: that everyday Australians should have access to straightforward life insurance they can trust.

The peace of mind customers get from knowing they are protected isn’t a luxury, which is why Insuranceline aims to provide flexible and affordable life insurance with real financial security.

Income Protection Plus Ratesaver

Canstar Research
Rating:
Award: Outstanding Value Income Protection Insurance

Occupation Trades & Services

Non-Smoker

2018 Star Ratings Report

Written by: Regina Collins | Last updated: June 19, 2018