Compare Income Protection for Engineers

Get started with a free quote

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.

  • Save up to 40% on your policy

    Based on a typical policy ?

  • Get 20% cash back on your first years premiums

    See how to redeem your cash back ?

  • Simple & Obligation free

    Get a market comparison with no obligation to buy.

  • Personalised Service

    Receive a personalised quote from one of Australia's largest financial comparison site

  • No forms to fill out or sign

    We do the work for you over the phone

Income Protection Insurance for Engineers

According Australian job site mycareer.com.au, the average annual salary of an engineer is $123,860. This is at the upper end of the scale, since average Australians earn only somewhere around $61,000-80,000. Thus, if you are an engineer living in Australia, chances are that you are better off than most people in the country.

But what would you do if you suddenly fell ill or got injured in an accident and are unable to work? Do you know where you will look for the funds for your medical expenses and the kind of lifestyle you are already accustomed to? How will you pay for your bills and mortgage?

You might not like to think about these things, but it is important to be ready all the time for emergencies that could hurt your finances. The great thing is that there's what's called income protection insurance.

How Income Protection Insurance Works

Income protection insurance is a type of insurance that helps cover your financial needs in case you are unable to work due to an illness or injury. Depending on your policy and the price of your premium, you could receive up to 75% of your salary. Benefits are then paid out on a monthly basis, which enables you to settle your regular household expenses such as your utilities, as well as your debts, including your mortgage.

Why It Makes Sense to Have Income Protection Insurance

You might look at income protection insurance as an unnecessary expense you have to make. After all, who knows if you'll actually need it in the future? But it makes a lot of sense to be covered, because:

  1. It can help protect your assets. If you need hospitalisation and extended periods for recovery, these things will require money. You could sell off your assets to pay for your medical costs, but wouldn't it be better if your insurance policy took care of that?
  2. It gives you peace of mind. If you're worried about your future, then you can relax if you have income protection insurance. That's because even if you're unable to work, you'll receive regular income while you're recovering.

Contact us on 1300 793 143 and we will organize you quotes from up to 9 Insurance companies in under 10 minutes. Our consultants will talk you through the process. Contact us today for more details!

AMP
AMP
CommInsure
CommInsure
MLC
MLC
Zurich
Zurich
AIA
AIA
Asteron
Asteron
ClearView
ClearView
OnePath
OnePath
TAL
TAL