Alternatives to Income Protection

There is no substitute for a full income protection policy. However, in some circumstances you may not be able to take one out. Fortunately we compare a number of alternatives Income Protection which are available:

Please note:

These policies are not as comprehensive as a standard income protection policy and where possible you may want to look at taking out income protection.

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Why should I consider an alternative income protection?

If you are unable to take out income protection and you still have expenses pay each month, you may want to consider one of the policies outlined below:

Why may I be unable take out Income Protection?

There may be a number of reasons why you can’t take out a full income protection policy:

You are older than the entry ages:

General Entry Ages for income protection are as follows:

  • White Collar Occupation: 64 and younger
  • Blue Collar Occupation: 59 and younger

If you are older than 59 and 65 you may want to look at what alternatives income protection are available you.

*White collar Occupations generally includes lawyers, doctors, accountants and office workers.
*Blue Collar Occupations generally include plumbers, painters, carpenters, brick-layers and other trades.

You have a pre-existing medical condition

If you suffer from a pre-existing medical condition, you may not be able to take out an income protection policy and may want to think about an alternative such as Accident Only Insurance.

Your Occupation

An alternative income protection may be suitable for you if you:

  • Work in a particularly dangerous occupation
  • Are retired and not working
  • Are a stay at home mum or dad
  • Are only working on a casual or part time basis


If you engage in a dangerous or hazardous pastime such as skydiving, moto cross racing or deep sea fishing and you may not be able take out an income protection policy and may need consider an alternative.

What are my alternatives?

Living Expenses Cover

Living Expenses Cover pays an agreed monthly benefit if you become significantly disabled due a sickness or accident and if you are continuously significantly disabled during and after the waiting period.

General Cover Income Protection

General Cover provides a monthly benefit which covers up 75% of your salary or up $5,000 per month if you are unable perform the Activities of Daily Living:

  • Bathing
  • Dressing
  • Toileting
  • Mobility
  • Continence
  • Feeding
  • Dressing

Accident Only Insurance

Accident Only Insurance provides cover up to 75% of your income if you are unable to work due to an accident. It does not provide cover if you are unable to work due to an illness.

Published: June 16, 2015
  • Personal Accident Insurance

    Protect yourself and your family from the unexpected loss of income, due to accidental injury, by taking out personal accident insurance cover.

  • Living Expenses Cover

    Ineligible for Income Protection because of your age? Living Expenses Cover offered by OnePath could be the option for you!

  • General Cover Income Protection

    Are you retired or no longer working full time? General Cover provides an alternative to Income Protection with entry Ages up to 69 and expiry ages up to 80!

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