Finance and Wealth > Income protection

Income protection

Protect your income in the event that you’re unable to work due to an accident or sickness. Income protection insurance replaces lost income if you’re unable to work.


Protect your income

Your income is one of your most important assets. Having an income, means you can get back on your feet sooner. 

Cover your expenses

If the unexpected happens and you’re unable to work, have the piece of mind knowing you still have an income to cover bills and expenses.

Policy types

Indemnity value

The amount you’re insured for is a percentage of your salary when you make a claim. If your salary has decreased since you bought the policy, you’ll get a smaller monthly insurance payment.

Indemnity value policies are generally cheaper and can be useful for people with a stable income.

Agreed value

The amount you’re insured for is a percentage of an agreed amount when you sign up for the policy.

These are generally more expensive but can be useful if you have income that changes from year-to-year.

What to consider

  • If you have total or permanent disability or trauma insurance, that can help replace lost income


  • If you have private health insurance that could help pay for any medical expenses
  • What help or support from family or friends may be available

Common questions

What is income protection?

Income protection insurance pays up to 85% of your pre-tax income for a specified time if you’re unable to work due to partial or total disability. It doesn’t cover you for lost income because you are stood down or become unemployed.

Who is it for?

Consider income protection insurance if:

  • You are self-employed or a small business owner, as you may not have sick or annual leave
  • You have family members or dependents that rely on the income you earn
  • You have debt, such as a mortgage, you’ll need to make payments on even if you’re unable to work

Looking for life insurance?

Life insurance provides a financial safety net for your family, if you’re no longer around. Learn more

Meet our specialists

Timothy Foster

Timothy is a Certified Financial Planner, Life Risk Specialist, a member of the Financial Planning Association and holds an Advanced Diploma in Financial Planning. Timothy has more than 25 years’ experience within superannuation (especially Public Service superannuation), banking, accounting and financial planning organisations (both in Australia and overseas). His ability to explain complicated strategies and finances in a clear, simple and understandable manner, places him in high demand to speak at seminars and conferences throughout Australia.

 Timothy Foster's qualifications include Certified Financial Planning (CFP), Life Risk Specialist (LRS) & Advanced Diploma of Financial Services (Financial Planning).

Paul Hatzigeorgiadis

APS Financial Planning is proud to introduce our new Financial Planner, Paul Hatzigeorgiadis. Paul has over 25 years’ experience in the financial services sector, commencing his career in 1996. Throughout this time Paul has seen how his quality advice helps people to get through tough times and enjoy the good times.

Over Paul’s history, he has provided advice to an extensive range of clients, ensuring he understands their individual needs and future goals.

Talk with Paul for an appointment today on (03) 9322 2000, 1300 131 809 or email paul.h@apsfinplan.com.au.

   Financial services guide
   Timothy Foster and Paul Hatzigeorgiadis • PDF • 331KB

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Financial planning services are provided by APS Financial Planning Pty Ltd. APS Financial Planning Pty Ltd and its Advisers are authorised representatives of Fortnum Private Wealth Ltd – ABN 54 139 889 535. AFSL 357306.

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