Income Protection Insurance (also known as Salary Continuance) is designed to replace a portion of the insured’s income (normally 75%) in the event of being unable to work due to sickness or injury.

Income protection insurance is essential for anyone who relies on their salary to meet financial obligations and commitments.  Benefit periods can be from 2 years or they can be paid up to age 70.  The premiums paid for income protection insurance are usually tax deductable.

Is there a waiting period for receipt of income protection?

Income Protection contracts generally have two variables, when the benefit commences and how long the benefit will continue for. A Waiting period is the amount of time one must be unable to work before the benefit commences paying. They can be after 14 days or after as long as 2 years.  On average they are after 30 days or 60 days.

Is this insurance tax-deductible?

It’s always best to speak to your account about taxation advice however generally income protection premiums are also tax deductible to the policy owner.

How should I ascertain the level of cover?

Levels of Income Protection depend on the amount of income you wish to protect but in most cases people can insure up to a maximum 75% of their income (including superannuation)

Case Study

A family man who had intestinal issues as a child however had lived a fairly healthy existence since became unwell with the reoccurrence of bowel issues.  The condition became so intense that the man could not really leave the confines of his home and needed surgery and recovery time to correct the issue.  In total, the man was absent from work for nine months.  The Income Protection insurance policy had a 30 day waiting period and then the balance of his absence from work was compensated at 75% of his usual salary for the remaining six month of personal leave.

Staff Profile

Please contact the following Account Managers directly for a referral to Planned Life for this product:


Cos Cirocco

National Business Manager - State Manager SA

Genevieve Reed

Account Manager - VIC

Karen Meiklejohn

State Manager – QLD/NT

Kylie McGrath

State Manager
WA Branch

Shane Richards

Account Manager – NSW

Planned Life product support and expertise provided by:

Daniel Orrell

Business Development, Partner - Planned Life Cover

Darren Conway

Principal/Director - Planned Life Cover