Minimum entry age
Maximum entry age
Policy anniversary after the insured person turns 65
Minimum sum insured
$1,500 per month
Maximum sum insured
The maximum sum insured is the lower of $20,000 per month and:
The insured person may also apply for up to an additional 10% of their monthly income as a super monthly benefit, under the Superannuation Contribution Option.
An Income Booster Option is also available, providing an additional 20% of the monthly benefit for the first six months of claim.
Income Protection Cover is available both inside and outside of super
30, 60 or 90 days
Two or Five years
Income Protection Cover includes the below key benefits, valuable features, and the ability to add optional benefits.
If cover is purchased inside super, then only the benefits and features marked with an * are available. If cover is purchased outside super, then all benefits and features are available.
All Income Protection Cover benefits and features are subject to the full terms and conditions outlined within the Encompass Protection PDS.
Total Disability Benefit*
Partial Disability Benefit*
WAIVER OF PREMIUMS WHILE ON CLAIM BENEFIT*
We’ll waive premiums while we’re paying a monthly benefit.
FUTURE INCREASE BENEFIT*
If the insured person’s income increases by up to 15%, this feature allows for the sum insured to be increased without having to provide further medical evidence.
To help ensure cover keeps pace with the cost of living and maintains real value, we automatically increase the Income Protection Cover sum insured and the Superannuation Contribution Option sum insured each year by the lesser of 3% or, the Consumer Price Index.
Depending on the chosen benefit period, if the insured person returns to full-time work after receiving a Total Disability or Partial Disability Benefit and they suffer a relapse of the illness or injury within six months, the waiting period will be waived, and the disability claim will be treated as a continuation of the original claim.
If the insured person dies while Income Protection Cover is in place, we’ll pay a lump sum benefit of $10,000.
REHABILITATION EXPENSE BENEFIT
If we’re paying a Total Disability or Partial Disability Benefit, we’ll pay for the costs of participation in an approved rehabilitation program and/or any equipment we agree is needed for the insured person’s rehabilitation.
In addition to the key benefits and valuable features, under certain circumstances an Increasing Claim Option*, Income Booster Option* and/or Superannuation Contribution Option* can be added to Income Protection Cover for an additional cost. See the Encompass Protection PDS for details.