Income Protection

In the event that illness or injury hinders your ability to work in your current occupation or any other occupation, Income Protection Cover offers support by providing a monthly benefit. This benefit can be utilized for various purposes such as loan repayments, children’s education, daily living expenses, and more. This coverage aims to provide peace of mind, allowing you to concentrate on what matters most – your health and recovery.


Pay monthly

In the event of accidental disability or illness, the insured can receive a monthly claims payment to safeguard cash flow. Typically, the payout is as high as 70% of the income.

Tax Concessions

Individuals holding income insurance can simultaneously protect their income and benefit from potential tax deductions, providing a dual advantage.

Waiver of premium

You'll have a complete waiver of your premiums while receiving the monthly payout from your income insurance.

Claims Increment

Throughout the claim period, the monthly payment amount will adjust in line with the Consumer Price Index (CPI) to counteract the effects of inflation.

Loan Repayment Calculator - Speed Lending

Who needs income insurance?

Individuals with real estate and loans, spanning various age groups, engaging in voluntary tax declaration income may have continuous cash flow and protection needs in the event of disability or illness preventing them from working:

  1. Continuous Monthly Income and Pension Contribution Payout: Desire for a sustained monthly income and pension contributions to cover necessary expenses.

  2. Better Recovery Environment, Support, and Benefits for Returning to Work: Want a conducive recovery environment, along with support and benefits for a smooth return to work.

  3. Property Protection and Loan Repayment: Seek to protect property, repay loans, and avoid the risk of leverage issues.

  4. Business Continuity: Desire continuous funding for effective business management, ensuring a steady financial chain.

  5. Assistance for Loss of Income due to Inability to Work: Need support for lost income resulting from an inability to work due to disability or illness.

How to Customize Income Protection Policy?

Calculate your monthly payment

In general, income insurance can cover up to 70% of your active tax filing income. For example, if your annual income is $100,000, your monthly payout is $100,000X70%/12=$5,8333.

Choose waiting period and benefit period

Waiting Period: The waiting period denotes the duration before you commence receiving monthly benefits following an accident. It's akin to considering how long you can sustain without income if you lose your job. Factors like unused sick leave, annual leave, savings, etc., come into play when choosing this option. Typically, a shorter waiting period correlates with a higher premium, while a longer waiting period corresponds to a lower premium. Earning Period: The earning period pertains to how long the insured can receive monthly payments after the waiting period elapses. The length of the benefit period directly influences the premium — a longer benefit period results in a higher premium, whereas a shorter benefit period leads to a lower premium. Options often include periods of two years, five years, until the age of 65, or 70.

Find the balance of protection

Tailor the coverage amount to fit within your affordable premium range. The concept is to invest in long-term comprehensive protection without compromising your quality of life. Strive for a balance between coverage and premiums, putting you in control of your wealth.

Compare insurance products for free

The Speed Lending Insurance specialist team is highly trained and experienced in risk management. We have successfully assisted many individuals in making claims during crisis situations. Our approach is straightforward, helping you compare top Australian insurance brands efficiently. This empowers you to customize a preferred insurance solution that meets your protection needs—affordable and tailored to your preferences. This streamlined service saves you time and money, providing an intimate one-stop insurance and wealth management experience.

Why Choose Us

Free comparison

Our comparison service finds the balance, saving you time and effort.

Superior Product

Top insurers, chosen insurance brands, and a dedicated specialist team for your support.


No hidden fees, lower premiums, more discounts, total peace of mind.

Speed Lending Care

Continuous insurance management and claims assistance, worldwide 24/7 protection.

Speed Lending Academy

Share insights on wealth management, offer financial education, and provide risk management techniques.

Our Benefits

Reciprocal resources, interconnected networks, and collaborations with diverse reward initiatives.

Insurance comparison Life TPD Trauma Income Protection Active
Receive Monthly Benefit for being unable to work due to sickness or injuries.
Receive a lump sum benefits when you are permanently disabled and unable to work to in your occupation or any occupation.
Receive a lump sum benefit when you suffer from one of the listed major health event. (eg. cancer, heart attack or stroke, etc.)
Receive Monthly Benefit for being unable to work due to sickness or injuries.
Child Cover Option Receive Benefit when a child suffers a serious illness, disability, death or terminal illness.
Premium Paid via Super (100% or Partially)
Free Health Reward Program
Multiple claims
Additional Claims Safety Net
Protected Cover for Future Claims
Premium From AU$30.00/month From AU$30.00/month From AU$30.00/month From AU$50.00/month From AU$50.00/month


f you answered Yes to the following questions, then you need it. 

  • Do you have active tax return income? (For example: annual salary of 100,000 Australian dollars) 
  • In the event that you cannot work due to an accident, illness/disability, will this affect your ability to earn money?
  • Do you need adequate back-up plans to provide the necessary cash flow protection?
  • Do you have responsibilities to pay off your home loan?
  • Do you want to build a wealth moat for those who depend on you (family or children)? 
  • Do you want to build a layer of leveraged protection for your property?
  • Do you want to feel more secure in your future work and life? 

Do not.

The coverage of income insurance is the percentage of the active tax declaration income caused by the inability to work due to illness or disability, up to 70%, and the monthly payment. 

In general, events not covered by income insurance include: 

    • Inability to work due to suicide or self-harm.
    • Crime-induced inability to work.
    • Unable to work due to war.
    • Pre-existing conditions cause disclaimer.
    • Normal pregnancy or childbirth.

Can. If you purchase income insurance under your personal name, you will receive tax reductions based on your personal tax rate.

For example: Your personal tax rate is as high as 47%, then when you get your personal tax refund, your income insurance premium can get a tax deduction discount of 47%. While obtaining income protection, you can also obtain tax discounts on premiums, killing two birds with one stone.

Under normal circumstances, Australian income insurance is not bound for many years, nor is it mandatory to spend how much. You can choose the premium you can pay according to your own situation, goals and needs.

There are many factors that affect premiums, including: sum insured, age, gender, premium structure, whether you smoke, whether you have existing health risks, etc.

In addition, you can customize the monthly compensation amount, as long as it does not exceed 70% of the active tax return income. The shorter the waiting period, the more expensive the premium, and the longer the waiting period, the cheaper the premium. The shorter the benefit period, the cheaper the premium, and the longer the benefit period, the more expensive the premium.

Yes. If you use your superannuation to buy income insurance, you will not be able to get personal tax credits when you get your tax refund.

Who do I contact in the event of a claim? For insurance claim events, please promptly contact the Speed Lending Insurance team at; we will notify the insurance company based on your claim event and assist in preparing the necessary supporting documents.

Are there any additional charges for claims service? No, the claims service offered by Speed Lending to Insurance members is provided at no extra cost.

Can I contact the insurance company directly? Yes, you can. As your insurance policy is a legal contract between you and the insurance company, you have the option to directly contact the insurance company to initiate a claim.

02 9758 2182
Free credit report
Free valuation report
Direct to broker