Income Protection is a type of insurance that provides financial support if you can’t work because you’re sick, injured, or disabled.
You’ll generally receive:
You probably have income protection without even realising it. Most people are covered through their superannuation policy, but you may have bought insurance directly from an insurer or bank instead. To find out whether income protection is included in your policy, simply reach out to your super fund or other insurer.
Once you’ve confirmed that you have an income protection policy in place, it’s essential to understand the factors that could affect your eligibility to make a claim. These are:
While it’s crucial to understand your level of cover, we know policies can be a bit of a dry read. That’s why our lawyers are always available to run through your policy with you, in person or over the phone. Speak to us today to find out if you have an income protection claim.
You’ll get paid up to 75% of your pre-injury income, including superannuation contributions.
The exact amount depends on the type of policy you have: indemnity or agreed value.
Time limits apply to most income protection insurance claims. You usually need to apply within six months from the onset of illness or injury. However, these limits can vary depending on the insurance policy and provider. Therefore, we advise filing your claim as soon as you become unable to work due to your condition.
If you’re outside your policy’s time limit, you may still have options—just speak to one of our experienced lawyers today. In a free consultation, we’ll provide free advice on your situation and help you figure out your next steps.
We operate on a ‘No Win, No Fee’ basis. This means we only charge for our services if we secure a favourable outcome for your case. Simply put — if we don’t win, you don’t pay.
We recommend reaching out to our specialist income protection team for guidance. They can help you through the process and make sure you meet all the requirements.
Here’s a breakdown of the typical claims process:
Start by contacting your insurance provider. They’ll give you the claim forms you need to fill out.
You’ll need to collect medical evidence to support your claim. This usually means getting medical certificates or reports from your doctor. These documents should explain the nature of your illness, injury, or disability and how it affects your ability to work.
Fill out the claim forms provided by your insurer. It’s important to provide accurate and honest information about your condition. Be sure to include confirmation from your GP that you are likely to be off work for longer than the waiting period.
Send the completed claim forms along with the supporting documentation to your insurer. Depending on your insurer’s preferred method, you can submit the claim forms electronically or via mail.
The insurance company will review your claim based on the information you provided. They may also request additional documentation or request an independent medical examination to assess your condition.
Once the assessment is complete, the insurer will make a decision on your claim. If it’s approved, you’ll start receiving income protection payments. If your claim is denied, the insurer will explain why and let you know about any options for further action.
Remember, the claims process can vary depending on your insurance provider and policy. It’s a good idea to review your policy documents or get in touch with your insurer directly to get detailed information about their claims process.
How long you receive income protection payments depends on the terms of your policy. Generally, payments last for a specific period, e.g. 2 years, 10 years, or until retirement age.
Though income protection payments are designed to support you while you’re temporarily off work, your injury or illness does not have to be work-related. There are a large number of conditions that qualify for income protection, including (but not limited to):
Redundancy, other unemployment, and self-inflicted injuries do not usually qualify for income protection. Importantly, psychological injuries—such as depression—are covered.
If your injury or illness is likely to prevent you from permanently returning to work, we can help you make a Total and Permanent Disability (TPD) claim. In contrast to monthly income protection payments, a TPD claim can result in a substantial lump sum payment.
If you were injured at (or because of) work, you’re entitled to workers compensation and income protection. While you can legally claim both at the same time, it’s not always advisable—it all depends on your individual circumstance.
I’m receiving weekly workers compensation payments
If you’re already receiving weekly workers compensation payments, making a claim for income protection is likely to trigger your policy’s ‘offset clause’.
An offset clause reduces the amount of income protection you receive based on your other weekly or monthly payments.
There are limited exceptions to offset clauses, including where you’re claiming income protection for an injury or illness that is separate to your workers compensation condition.
Only my medical expenses are covered by workers compensation
If your workers compensation only extends to medical expenses (and the like), this will not trigger your income protection policy’s offset clause.
As a result, you will receive your full income protection payments, in addition to having your medical expenses covered by workers compensation.
Wait periods apply to most income protection claims. This is the amount of time you must be off work before the insurance starts paying out. Depending on the terms of your policy, the wait period can range from a few weeks to several months.
Once the waiting period is over, the insurance kicks in and you’ll start receiving regular payments.
From lodgement to approval by the superannuation trustee, most income protection claims are finalised within 1 – 3 months. Your payments will then begin 2 weeks – 2 months after your claim is finalised.
Our dedicated superannuation team have developed methods to fast-track income protection claims and, as a result, most of our clients receive payments just 3 – 4 months from their first consultation.
If your income protection claim has already been rejected by an insurer, speak to a specialist lawyer immediately. This is especially important if you made your initial claim without legal representation.
In our experience, insurers often refuse to pay income protection to unrepresented claimants. They may cite their own medical evidence, determine that your condition is pre-existing, or attempt to cancel your policy on the grounds of non-disclosure or insurance fraud. Our expert team are not only familiar with these insurer strategies, but we also know how to defeat them.
Whatever the reason for your rejected claim, we’ll get you your rightful entitlements. Time limits apply to appeals, so ensure you speak to a lawyer as soon as possible.
Whether you need a lawyer for your income protection claim depends on various factors, such as the complexity of your case, the insurance company’s response, and your comfort level with the claims process.
While it is not mandatory to hire a lawyer to make an income protection claim, there are several benefits to involving one from the start. This includes:
Need help with your claim but concerned about the cost? We’ve got you covered with our No Win No Fee guarantee. Get guidance from our experienced income protection lawyers—at no financial risk to you. We cover all upfront costs, and you’ll only pay us if we win your claim. Contact us today to discuss your case.
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Great communication, empathy and understanding. My case worker Daniella was a saint, understanding and patient and always passing on any updates in record time.
I was at rest in a very stressful situation, a bad situation. It was made to cope with because of the professionalism displayed at every turn by this super supportive team. A Massive thank you to Daniella from me personally for all that you were able to accomplish in such a short time. To say I owe you is an understatement. My heartfelt thank you to Monaco.
My brothers and I had a complicated claim. I found Ben Ralph to be very helpful, himself and Sally Sutton worked hard for just over a year to get through our claim. They achieved a good result and got the monies paid to myself and my brothers.
Their communication was fantastic, and they would always let us know when they had an update or when they expected an update. If I had a question Ben was always happy to answer to the best of his knowledge and do extra research if he was un-sure. We went with Ben because he specialized in super and feel that he did an awesome job with our claim, I would definitely recommend Ben and his team. He was very professional but also had some empathy and understanding which was nice :)
Monaco Solicitors, I have no hesitation in recommending Daniella Dababneh and her team. After I suffered a serious workplace accident, I was in need of legal help.
From the very first phone call, I was treated with respect and I was always kept in the loop of the status of my claims, Early Release of Super & TPD. Both claims have been successful ????????????
I have been so fortunate to have found such a Professional and reliable solicitor. I would recommend Monaco Solicitors to all my family and friends. I would like to give a special mention to Daniella Dababneh from TPD section for all her hard work and continued communication with me. ❤️
I would like to take this time to thank Megg Ross for the outstanding service she has provided me for my case against EML for weight loss surgery. Megg Ross has always communicated with me all through the case. She always took the time to hear what I had to say and always was understanding and caring. Megg Ross was and is the right expertise for this case and I look forward to have her by my side through my other case. Once again thank you so so much Megg Ross for all your hard work and communicating. Monaco Solicitors you have an amazing lady working for your firm. Merry Christmas Megg Ross and a Happy New Year Kindest Regards Anna Callus
Monaco Lawyers helped me to receive compensation for an ongoing injury I sustained after I was simply driving home from work and was driven into head on by an incompetent and negligent driver who I believe was texting at the time of the accident.
Monaco Lawyers were keen to help me, understanding and easy to work with. I received more than I thought I would get with the help of one of the Monaco Lawyers who knew exactly what she was doing, and fought on my behalf for a very good outcome. I continue to have problems with my foot, but I feel I have received justice for something that was completely not my fault. Thank you to Monaco Lawyers.
I highly recommend Monaco Solicitors. I was claiming PI through my superannuation for workplace injuries. They were doing a no win no fee which was great as I am a carer for my mum and don't earn much.
Everyone I dealt with were so kind and helpful. They helped me where I was finding things difficult due to caring for my mum. They kept me up to date on what was happening. Monaco Solicitors are very professional and I would recommend them if you are looking for a good solicitor.
The law surrounding income protection claims can be complicated, and getting your full entitlements is often not as simple as lodging a claim.
To receive your benefits quickly—and in full—you need strong legal representation. Voted ‘Compensation Law Firm of the Year 2020’, we have the experience to ensure your entitlements are protected. This means you’ll get every dollar of your benefit, as well as an any additional payments you’re entitled to.
With our No Win No Fee Guarantee, your claim is also risk-free. There are no upfront fees, and you pay nothing until we win your case.Learn more about us