Frequently asked questions about Income Protection Insurance
Yes, you can make changes such as increasing or decreasing your amount of cover or changing your occupation after you have taken out a policy with us.
Yes, you can receive your Income Protection benefit as long as the total amount of income you are receiving from all sources during a claim does not exceed 75% of your monthly income, prior to the claim.
Your policy has a claim waiting period before any payments will begin. Payments are made one month in arrears, after the claim waiting period. You must be continuously disabled for this entire period.
The maximum monthly benefit you can apply for will be calculated based on 75% of your annual earnings and this is up to $10,000 per month for the Sickness and Injury cover
You will need to complete a claim form and provide other documents including your financial documents, medical notes if applicable and a certified proof of your identity and age (birth certificate, drivers licence or passport).
For the Sickness and Injury cover, you can claim the 6, 12, 24 or 60 months claim benefit period per claim and cannot claim again for the same sickness or injury unless you have made a full recovery between claims.
For payments to start, you need to be continuously disabled for the entire waiting period. If you are capable of working part-time or if you are working in any capacity, you would not be considered disabled.
Income Protection is available for up to 75% of your monthly income to provide an affordable level of financial protection in the event of sickness or injury, and to provide enough financial support for you to return to work.
Your policy can be cancelled if you engage in non-disclosure or fraud or don’t pay your premiums.
The Life Insurance Code of Practice is a series of customer service standards that all life insurers who are members of the Financial Services Council (FSC) need to comply with. These standards cover sales and marketing practices, underwriting and claims and are designed to protect you.
Suncorp Life Insurance policies are issued by TAL, who played a key role in creating the Life Insurance Code of Practice. Suncorp Life is committed to delivering the best possible customer service standards and support the Financial Services Council in promoting and monitoring the Code of Practice. Suncorp Life will continue to look for ways to raise the standards of customer service now and over the years to come. Read more.
COVID-19 Income Protection Insurance
If you’re an existing Suncorp Insurance customer with Income Protection or Life Protect Insurance, please call 13 11 55 for information on how COVID-19 may affect your cover.
Receiving a COVID-19 vaccination approved for use by the Therapeutic Goods Administration (TGA) in Australia will not affect the cover under your existing insurance policy. Suncorp Life, Income Protection and Funeral Insurance policies do not include exclusions or limitations related to COVID-19 including vaccine related side-effects. If you were to experience sickness or injury after receiving the COVID-19 vaccination, a claim can still be lodged for a benefit under your policy and your claim will be assessed and is subject to the terms and conditions of your policy. This includes doctors, nurses, health professionals, police and people working in quarantine hotels and services.
Suncorp Income Protection policies provide a benefit if you suffer an illness or injury and you are unable to work, in line with policy terms and conditions. Therefore, if your employer mandates that you are required to be vaccinated for COVID-19 and you are restricted from working as a result of choosing not to be vaccinated, you will not be entitled to make a claim against your policy for being unable to work if you are not suffering an illness or injury that is preventing you from working in your usual occupation or performing your usual daily activities.