Income Protection Insurance

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Total Disablement Booster Payment Option

As a built-in option included in the income protection cover policies of select insurers, the Total Disablement Booster Payment Option serves to add an extra 33 per cent on your standard monthly income protection payments – allowing for up to 100 per cent cover if you suffer a total and permanent disability.

Traditional Income Protection Benefits

Historically, an income protection policy provides you with a monthly benefit that generally only covers up to 75 per cent of pre-disability income, the main reason being to incentivise the insured to eventually return to work.

But as often is the case, those who become totally and permanently disabled may not be physically able to return to work, making this incentive redundant.

Eligibility Criteria

In order to be entitled to the extra 33 per cent on your monthly benefit payments until the end of your benefit period, potentially giving you 100 per cent cover of your pre-disability income, you will need to acquire cover with one of the select providers that offer this option and;

  • Have received claim payments for more than 6 consecutive months after the end of your waiting period, and
  • Having consulted the advice of a medical professional, be deemed to be totally and permanently disabled to the extent that you can no longer perform at least two of the following activities of daily living:
  1. Bathing
  2. Dressing
  3. Eating
  4. Toileting
  5. Transferring (the ability to move in and out of bed without assistance)

To find out how you can boost your income protection payments with this new built-in total and permanent disablement policy option, please call us today on 1300 135 205.