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ANZ Income Protection

Life doesn't stop, even if your income does.
 

Quote or apply Call 13 16 14

Protect your world by protecting your income

Your income supports the lifestyle you enjoy. If a covered event has put you out of work – for example, critical illness, injury, involuntary unemployment or looking after your seriously ill child – you could struggle to pay everyday expenses like your mortgage, groceries or school fees.

ANZ Income Protection can offer financial support through regular monthly payments. You may not have chosen to stop work, but you can choose to keep the money coming in if you can’t work.

Protect yourself and your lifestyle - signing up is easier than you think.

What's covered?

Income Cover

Receive a monthly payment of up to 75% of your gross income, up to $10,000disclaimer while you’re off work due to illness or injury.disclaimer

 

Involuntary Unemployment Cover

Receive up to 50% of your Income Cover to a maximum of $3,000 per month for up to three months if you’re made redundant, bankrupt or insolvent.disclaimer

Family Care Cover

Receive up to 50% of your Income Cover to a maximum of $3,000 per month for up to three months if you need to take time off to care for your child.disclaimerdisclaimer

Personalise your policy

  • Change how you pay and how oftendisclaimer
  • Apply to increase your Income Cover if your earnings increase
  • You may decrease your Income Cover
  • Pause your premium and coverdisclaimer
  • Choose from Stepped or Level premiumsdisclaimer
  • Choose your Income Cover benefit period and waiting period when you apply

Refer to the ANZ Income Protection PDS (PDF 278kB) for full details.

Extra benefits

  • Premiums may be tax deductibledisclaimer
  • Earn one Qantas Point for every $1 of eligible premium paymentdisclaimer
  • Flexible cover that’s easy to changedisclaimer
  • You may be eligible for a discount if your partner also holds an ANZ Income Protection Policy

What's not covered?

The information on this page is only a summary of some of our cover and exclusions. For further information view the ANZ Income Protection – key facts sheet (PDF 82kB) which sets out some of the events covered and not covered by this policy and other information you should consider.

For a complete statement of the cover offered, exclusions, conditions and limits that apply under the policy, you should carefully read the Product Disclosure Statement (PDS) (PDF 278kB) and all policy documentation. Waiting periods apply before a benefit is payable (30 days for Involuntary Unemployment Cover and Family Care Cover. Choose a 30 or 90-day waiting period for Income Cover).disclaimer

Eligibility requirements apply to this product including age, residency and your existing cover - see below for details.

Income Cover

We won’t pay an Income Cover claim arising directly or indirectly from:

  • a pre-existing medical condition you had in the two years before your policy starteddisclaimer
  • a mental illness condition
  • pregnancy and birth-related conditionsdisclaimer
  • professional sports
  • an intentional act or omission
  • war.

Involuntary Unemployment Cover

We won’t pay an Involuntary Unemployment claim arising directly or indirectly from:

  • involuntary unemployment in the six months after your policy start date
  • the seasonal, casual or temporary nature of your work
  • voluntary unemployment
  • misconduct.

Family Care Cover

We won’t pay a Family Care Cover claim:

  • made in the six months after your policy start date
  • for a dependent child’s mental illness condition
  • for a pre-existing medical condition your child had in the two years before your policy started.

What do you need to do to apply online?

  • You can get a quote within minutes with a few simple questions 
  • If you choose to apply, you will be asked additional health and lifestyle questions to complete your application. This may take 15-20 minutes
  • The final cost may differ from the initial quote depending on your answers 
  • You are immediately covered once you complete your application. You can download your application summary and you will soon receive a welcome pack.

To apply, please ensure

  • You are between 18 and 59 years old inclusive
  • You are an Australian or New Zealand citizen, or Australian permanent resident
  • You are currently residing in Australia.
  • For more detailed information go to Eligibility information

How long can you go without your income?

For a lot of people, if something did happen, they would find themselves in trouble pretty quickly. 

James Mathison looks into this for us.

Earn Qantas Points with your policy

If you’re a Qantas Frequent Flyer member, you can earn 1 Qantas Point for every $1 of premium paid on your eligible ANZ Life Insurance policy.

If you're not a member of the Qantas Frequent Flyer program yet, you can join for free.

 

Find out more

   

   

Add your insurance details to the ANZ App

Add insurance policies to the ANZ App so that the details are handy when you need them. 

Browse and buy a range of insurance coverage including home, motor, life and income protection.
 

Learn more

  

Use our easy claims process

We know income insurance claims can come at a stressful time. With support available online and over the phone, we're there for you when you need us. 

Once we've received your claim, we'll let you know if we need more information.

 

Make a claim


Learn more about income protection

Article

Income protection insurance FAQs

See the frequently asked questions about income protection including cover length, waiting periods, exclusions and costs.

  

Article

Seven benefits of income protection insurance

Learn about the benefits of an income protection policy, what the protection offers, how you can use it, and tax considerations.

  

Article

Is income protection worth it?

Can you cope without your income? You should consider protecting it. Learn more about why income protection insurance is important. 

  

Article

Does my insurance cover me for redundancy?

Some policies include cover for involuntary redundancy. Understand your options, who can be insured, cover amounts, and more.

  

Get your income protection now

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Mon-Fri 8am to 7pm (AEST)

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Product Disclosure Statement

You must meet all of the following criteria to be eligible to apply for cover.  If you purchase this policy but don’t meet all of the criteria, we will void your policy and refund any premiums you’ve paid for this policy in accordance with the policy terms or our legal rights.

Please refer to the ‘You need to meet certain criteria to apply for this insurance’ section of the Income Protection Insurance product disclosure statement (PDF 278kB) for full details.

Who can apply

You can apply for ANZ Income Protection insurance if you are aged between 18 and 59 and:
 

  • Residency: You are living in, and reviewing the ANZ Income Protection Product Disclosure Statement and Policy (PDS) in Australia, and are:
    • an Australian or New Zealand citizen living in Australia, or
    • a permanent resident of Australia, or
    • a holder of a valid Temporary Skills Shortage or Temporary Work (Skilled) (subclass 457 or 482) visa.
  • Previous work history: Unless you hold a valid Temporary Skills Shortage or Temporary Work (Skilled) (subclass 457 or 482) visa, you must either:
    • have been employed or self-employed continuously for 12 months in the last 24 months in Australia or New Zealand, or
    • be a recent graduate, meaning you’ve graduated in the last 12 months with a university or Vocational Education and Training (VET) qualification in Australia or New Zealand, and are currently employed (not self-employed).
  • Existing Cover: You must not have an ANZ Income Protection policy at the time you apply for this product.
  • Current employment: You are employed more than 20 hours per week in an eligible main occupation.

High risk or special risk occupations

If your job is classified as high or special risk on application, extra conditions will apply to your cover, including:

  • a maximum payment of $3,000 a month
  • no cover if the injury or illness is caused by the duties you perform for your work.

How long you are covered?

You can keep your cover until the policy anniversary after your 65th birthday.

How to make a complaint, compliment or provide feedback

We value your feedback regarding our performance and we’re committed to resolving any concerns you may have. 

Talk to us

Our customer service team is your first point of contact for any enquiries, raising concerns or providing feedback. Our contact details are below. We will do our best to resolve your concerns genuinely, promptly, fairly and consistently, and keep you informed of the progress.

If you are not satisfied with the response to your complaint or feedback, your concerns will be escalated to our Complaints Resolution Centre.

Call us:

  • 13 16 14 on weekdays from 8:30am to 6:00pm (AEST)
  • +61 2 9234 8111 for international clients

Online: OnePath feedback, compliment, and complaints form

Email us: insurancefeedback@onepath.com.au

Write to us:

Complaints Resolution Centre
GPO Box 7086
SYDNEY NSW 2001

   

External dispute resolution

If your concerns have not been resolved to your satisfaction, you can lodge a complaint with AFCA who provides fair and independent financial services complaint resolution that is free to consumers. 

Time limits may apply to complain to AFCA and so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.The AFCA contact details are:

Call us:

1800 931 678 on weekdays (except on public holidays) from 9am to 5pm (AEST)

Email your complaint to:

info@afca.org.au

Write to us:

Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001

Online:

www.afca.org.au

   

 

This information was published on 1 June 2019 and is subject to change.

The above content relates to policies issued from 1 June 2019 under the ANZ Income Protection Product Disclosure Statement and Policy Document (PDF 272kB), and is current as of today. Previous products (with the same name) may have different features and benefits. If you are an existing customer, please contact us if you have any questions about your cover.

ANZ Income Protection covers two separate financial products – Income Cover is issued by OnePath Life Limited (OnePath Life) (ABN 33 009 657 176, AFSL 238 341) and Involuntary Unemployment and Family Care Cover are issued by OnePath General Insurance Pty Limited (ABN 56 072 892 365, AFSL 288 160) (OnePath General). We recommend that you read the ANZ Financial Services Guide (PDF 479kB) and ANZ Income Protection Product Disclosure Statement and Policy Document (PDF 272kB) (available online or by calling 13 16 14) before deciding whether to acquire, or to continue to hold, this product. This PDS relates to policies issued from 1 June 2019. Previous products (with the same name) may have different features and benefits. If you hold insurance based on an earlier PDS, please contact us if you have any questions or to have a PDS sent to you.

ANZ Life Insurance is issued by OnePath Life Limited (OnePath Life) (ABN 33 009 657 176, AFSL 238 341). We recommend that you read the ANZ Financial Services Guide (PDF 479kB)ANZ Life Insurance Product Disclosure Statement and Policy Document (PDF 145kB) (available online or by calling 13 16 14) before deciding whether to acquire, or to continue to hold, this product. This PDS relates to policies issued from 1 June 2019. Previous products (with the same name) may have different features and benefits. If you hold insurance based on an earlier PDS, please contact us if you have any questions or to have a PDS sent to you.

ANZ Home Insurance is issued by QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239 545) (QBE). We recommend that you read the ANZ Financial Services Guide (PDF 479kB), ANZ Home Building Key Facts Sheet (PDF 133kB)ANZ Home Contents Key Facts Sheet (PDF 134kB) and the ANZ Home Insurance Product Disclosure Statement (PDF 1.3MB) (available by calling 13 16 14), before deciding whether to acquire, or to continue to hold, these products.

ANZ Health Insurance is issued by Bupa Health Services Pty Ltd (previously known as Bupa Australia Health Pty Ltd) (ABN 50 003 098 655). We recommend that you read the ANZ Financial Services Guide (PDF 479kB), and the ANZ Health Insurance Product Disclosure Statement (available by calling 13 16 14), before deciding whether to acquire, or to continue to hold, these products.

ANZ Financial Planners are representatives of ANZ, the holder of Australian Financial Services Licence number 234 527.

OnePath Life has adopted the Life Insurance Code of Practice (the Code), which contains minimum standards of service that customers can expect from insurers. The Code can be found at www.fsc.org.au.

Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522, AFSL 234 527 is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). The issuers of these products are not Banks. Although ANZ distributes these products and except as described in the relevant PDS, ANZ does not stand behind or guarantee the issuers or the products.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information, you should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs.

The ANZ App is provided by ANZ.  Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. ANZ recommends that you read the ANZ App Terms and Conditions available at anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

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You can apply for a monthly benefit of up to 75% of your gross monthly income up to $10,000, depending on your occupation. For a standard risk occupation it’s up to $10,000. For a special risk occupation it’s up to $3,000, and no benefit is paid if you claim for a disability caused by your work duties. If we class you as having a special risk occupation, it will be shown on your Policy Schedule. The monthly amount paid may be less than the Income Benefit you selected when you applied, depending on your ‘pre-claim earnings’ and ‘other payments’.

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Pre-existing medical conditions in the 2 years before the policy start date, and mental illness conditions are not covered in relation to the Income Cover. A pre-existing medical condition is an illness, injury or condition that:

- you were aware of, or
- a reasonable person in the circumstances could be expected to be aware of.

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For Involuntary Unemployment Cover, the benefit period is 3 months and the waiting period is 30 days. Additional exclusions and conditions apply. Please refer to the ‘Involuntary Unemployment Cover – for when you’re made redundant, bankrupt or insolvent’ section of the Income Protection Insurance product disclosure statement (PDF 278kB) for full details.

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We only pay one Family Care Benefit for the duration of the policy, after which your Family Care Cover will end. For Family Care Cover, the benefit period is 3 months and the waiting period is 30 days. Additional exclusions and conditions apply. Please refer to the ‘Family Care Cover – for when your child is ill or injured' section of the Income Protection Insurance product disclosure statement (PDF 278kB) for full details.

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You can pay by credit card (including Visa, American Express and Mastercard) or directly from your bank account. You can choose to pay your premiums fortnightly, monthly or annually.

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With Premium Pause, you can put your policy on hold for up to 12 months, or 24 months if you are on parental leave. You won’t pay premiums during that time, but you won’t have cover for that same period of time or for 90 days after your premium starts again.

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A Stepped premium is where your premium is recalculated on the anniversary of your policy. With the Level premium option, your premiums will generally stay the same each year, unless we change the premium rates as described in the ‘We can increase your premiums with 30 days notice’ section of the PDS.

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Benefits paid under ANZ Income Protection cover are generally seen as income replacement. Therefore the benefit payments should be treated as assessable income, and insurance premiums may be deductible for tax purposes. We recommend that you seek professional tax advice from an independent tax adviser, specific to your individual circumstances.

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You must be a Qantas Frequent Flyer member and correctly register your Qantas Frequent Flyer membership details with OnePath Life Limited (OnePath Life) (ABN 33 009 657 176, AFSL 238 341) to earn Qantas Points on eligible insurance policies. Eligible insurance policies are the following ‘OnePath’ and ‘ANZ’ branded direct life insurance policies: term life, income protection, trauma, accidental death and total and permanent disability. The following retail policies are also eligible: OneCare, OneCare Super, SmartCare and World of Protection. A joining fee usually applies. However, OnePath Life has arranged for this to be waived for new customers who join at qantas.com/anzlifejoin. This complimentary join offer may be withdrawn at any time. Membership and points are subject to Qantas Frequent Flyer program terms and conditions. Points are earned in accordance with the 'OnePath and Qantas Frequent Flyer Rewards terms and conditions'. Qantas does not endorse, is not responsible for and does not provide any advice, opinion or recommendation about the insurance product(s) in this communication.

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You can apply to: change how you pay your premiums and how often you pay them; increase your Income Cover if your earnings increase; pause your premium and cover; and to decrease your Income Cover. Once your policy is in place, you are unable to increase your Income Cover benefit period or decrease your Income Cover waiting period.

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The waiting period begins: for Income Cover from the day you consult a medical practitioner; for Involuntary Unemployment Cover from your last day of your employment; and for Family Care Cover from the day you stop work after your dependent child is assessed as ill or injured by a medical practitioner. Additional exclusions and conditions apply. Please refer to the Income Protection Insurance product disclosure statement (PDF 278kB) for full details.

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Includes pregnancy, birth, miscarriage and termination. However, if you are disabled (except with a mental illness) for more than three months from the date the pregnancy ends, we will pay benefits from the end of the three months.

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