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.

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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 Disability Insurance 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.

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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.

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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


If your response is affirmative to the following queries, then it’s essential for you:

  1. Will an inability to work due to accident, illness, or disability impact your income?
  2. Do you require robust backup plans for necessary cash flow protection?
  3. Are there responsibilities tied to paying off your home loan?
  4. Do you aim to establish a financial safety net for dependents (family or children)?
  5. Is there a desire to add an extra layer of protection for your property?
  6. Do you wish to enhance the sense of security in your future work and life?
  • Died
  • Terminal illness (Example: Doctor predicts the insured has 24 months to live)
  • Suicide within 13 months is excluded from coverage.
  • Disclaimer: Exclusions apply for pre-existing medical conditions.

Typically, Australian life insurance is not fixed for a specific duration, and there’s no compulsory cost. You can customize your premium based on your situation, goals, and needs. Premiums are influenced by factors like the coverage amount, age, gender, premium structure, smoking habits, existing health risks, etc. General insurance often has a “validity period,” such as “valid until the age of 99.” During this period, policyholders can adjust or terminate the policy as needed for themselves and their beneficiaries.

 Pensions can pay 100% of life insurance premiums.


The underwriting officer of the insurance company will thoroughly assess the applicant’s health to determine the need for a medical examination.

For instance, when applying for critical illness insurance, if the applicant has any pre-existing health conditions like hyperlipidemia, high blood pressure, fibroids, or nodules, or if the applied critical illness insurance amount meets the underwriting medical examination criteria, the insurance company will proactively reach out to arrange a medical examination for yo

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.

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