Income protection insurance

Your ability to earn an income is likely to be one of your most valuable assets in life. How long would you be able to sustain your lifestyle and meet your financial commitments without it?

Income protection insurance pays a monthly benefit of up to 75% of your regular income if you’re unable to work due to injury or sickness.

Having a regular income while you are unable to work, can help you:
• cover your daily living expenses, and
• help with medical expenses and rehabilitation costs.

You may also be provided additional support services to help you return to work or find a new job, as part of your cover.

Our products

Elevate Insurance - Income Insurance

Elevate income insurance is available for Resolution Life customers who hold an existing income insurance plan (or equivalent income replacement product) with us, and a new income insurance plan is required in specific circumstances.

To see whether you can apply for a new income insurance plan please contact your financial adviser or contact us.

In addition to paying a monthly benefit if you are unable to work because of injury or sickness, Elevate income insurance plans offer several built-in benefits such as:

Automatic Inflation Benefit: Your monthly benefit insured is automatically increased each year by the greater of 3% and the Consumer Price Index (CPI) unless you advise us you don’t want this increase.
Premium Freeze Benefit: This benefit allows you to maintain your current premium at the time the benefit is exercised, in exchange for a monthly benefit that reduces each year.
Only available with stepped premium.
Specific Injuries and Sicknesses Benefit: If you suffer a specific injury or sickness, we’ll pay the monthly benefit for the specified period. There is no waiting period, and this benefit is payable regardless of whether you’re able to work.
Not available if your income insurance is through superannuation.
Return to Work Bonus Benefit: If you return to full time work after participating in an approved occupational rehabilitation program, we’ll pay a bonus of up to three times the monthly benefit.
Not available if your income insurance is through superannuation.
Rehabilitation Expenses Benefit: We’ll reimburse approved rehabilitation expenses, up to an amount of six times the monthly benefit.
Not available if your income insurance is through superannuation.
Right to Take out an Income Insurance Senior Plan: (medical and white-collar professionals only)
You may apply for an Income Insurance Senior Plan without having to provide evidence about your health, or pastimes within 60 days of your income insurance plan ending because of expiry age.

To find out more about Elevate Income insurance, including optional extras and suggestions on how you can potentially reduce the cost of your cover, refer to the Income Insurance product summaries. For full details about Elevate Insurance, refer to the Product disclosure statement and plan document.

For information on our other life insurance products, please refer to your policy document or speak to your financial adviser about the specific features your policy offers.

Documents and downloads

Income Insurance product summaries (select from drop-down)

Elevate Insurance offers a range of income insurance plans, including cover through super or owned by your Self Managed Super Fund (SMSF).

How to review your life insurance cover

Why keep my cover with Resolution Life?

Why insurance premiums change over time

What you need to know

Any advice on this website is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), and is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the relevant product disclosure statement and/or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision on whether to acquire, or continue to hold, the product.

The Target Market Determinations (TMDs) for our financial products (where applicable) can be found at Target Market Determinations (TMDs). The TMDs describe the key features and attributes of an applicable product that affect whether it is likely to be consistent with the objectives, financial situation and needs of consumers in the target market.

Resolution Life is part of the Resolution Life Group and can be contacted via contact us or by calling the phone number mentioned above.