Income Protection Insurance

The value of Income Protection Insurance.

Income Protection Select will pay you a benefit each month if you are unable to work due to an illness or injury. The benefit payment is designed to replace or supplement your income.

The ability to earn an income is paramount to the security of your lifestyle. Professionals Choice Income Protection Select Insurance affords the professionals we insure a range of benefits and optional extras designed specifically to meet their lifestyle needs and financial commitments. Ensuring your bills get paid and your lifestyle maintained while you are unable to work.

Cover Through Superannuation

Cover can also be purchased through a Super Fund including through the PPS Mutual Super Fund that has been set up to allow payments by Rollover from your own super fund, this approach provides you with a 15% Rollover Rebate.

Professionals Choice offers a Split Income Protection Select option, which allows you to apply for Income Protection Select cover both in and out of the Superannuation environment. This allows you to reduce your out of pocket Income Protection Select premium costs.

KEY BENEFIT FEATURES

Long term Benefit Period available

 

You can buy income protection that pays a benefit until typical retirement ages of 65.

High levels of cover available

 

We provide cover of up to $60,000 per month.

Career Change Transition Benefit

 

Pays a monthly benefit for 12 months to support a career transition after an illness or injury.

Caring for your Child Benefit

 

Pays a monthly benefit if you cease full-time employment to provide full-time care for your dependent child who is incapacitated.

Enhancements are passed back

 

Our philosophy is to keep our benefits current. Hence, we’ll enhance the Professionals Choice product to reflect changes in society and medical enhancements.

Where enhancements do not result in an increase to your premium rates, we’ll automatically pass them onto you. If the enhancement does result in a premium increase, you will be given the option to apply for the enhancement with a related increase to your premium.

Your insurance is guaranteed renewable each year until expiry

 

As long as you pay your premiums, we’ll continue to insure you with the same or enhanced terms and conditions until expiry. This applies even if you suffer changes to your health, you change occupations (including to non-professional occupations) or you take up different pastimes.

Worldwide Insurance

 

Your insurance covers you wherever you are in the world.

Increase your insurance without providing medical evidence

 

With our Future Increases Benefit and Business Increases Option your insurance cover can keep pace with your changing life, as they allow you to increase your insurance after certain life, professional and business events without the need to provide information about your health.

Parental Leave Cover Protection

 

If you take Parental Leave you can reduce your cover or stop it altogether. When you return to normal working hours you can increase cover to your previous level with no medical underwriting.

Study Leave Cover Protection

 

If you have stopped work (or reduced your working hours) no more than 12 months  ago to go on a Fellowship or for other career-based further Study or Training then you will be assessed against the occupation you were performing immediately prior to commencing the study.

Profit-Share

Members of PPS Mutual will be entitled to a share in the profits of the Professionals Choice product. PPS Mutual Professionals Choice is the only product to offer this feature in the Australian Insurance market.

Indexation for Professionals

Being exclusively for professionals we are able to offer the option of having benefits increase in line with your salary, based on increases in our Professional Earnings Index or inflation, whichever is greater.

Professional Events

You can also increase your cover without having to provide further medical evidence when certain career events occur such as becoming a partner or starting in private practice

Caring for your Child Benefit

Allows Members to take time off to care for a sick child and receive their Income Protection benefit for up to 6 months.

Flexible Premium Structure

A flexible premium structure provides for both a stepped and level premium structure for the one insurance type, allowing you to tailor your cover to benefit from the advantages of both premium structures

Change of Ownership

The plan ownership may be transferred at any time with no underwriting.

Cover through Superannuation

Provides the ability to structure Life, Total and Permanent Disability and Income Protection insurances through Superannuation. This provides the choice of paying your insurance premiums either with ordinary funds, with your Superannuation funds, or a combination of both.

Other cover options

Total & Permanent Disability

Trauma

Business Expenses