The Difference Between Salary Continuance & Income Protection

Salary Continuance and Income Protection Insurance can provide you with an income if you are unable to work due to sickness or accident. Many policies will cover up to 75% of your salary.

Income protection policies are very flexible and can be tailored to suit your individual and family circumstances but there are a few differences between salary continuance and income protection.

Most people have come to realise the necessity of having either income protection insurance or salary continuance insurance, as accidents do happen when least expected and financial stress can be an added burden especially if the circumstances are going to continue for an indefinite period of time.

The differences between Income Protection Insurance and Salary Continuance Insurance

Whilst it will appear that the two types of insurance are similar, there is one main difference that you need to be aware of and that is to do with the period of the payment time.

  • Salary Continuance Insurance is only available through your superannuation fund, and is only payable for two years. If you do not have a superfund then you are not eligible for salary continuance insurance.
  • With Income Protection Insurance you could receive payment up to the age of 65.

Don't forget - Income Protection premiums are 100% tax deductible!

Should you require further clarification regarding Income Protection & Salary Continuance Insurance then please give us a call on 1300 793 143.

Get your quotes now

What to find out more? Enquire now

Published on March 3-th, 2011 in Income Protection Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

More on this topic

Enquire about Income Protection Insurance

Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.