Income Protection Insurance
The value of Income Protection Insurance.
The ability to earn an income is paramount to the security of your lifestyle. Professionals Choice Income Protection Insurance affords the professionals we insure a range of benefits and optional extras designed specifically to meet their lifestyle needs and financial commitments. Ensuring your bills get paid and your lifestyle maintained while you are unable to work.
Cover can also be purchased through a Super Fund including through the PPS Mutual Super Fund that has been set up to allow payments by Rollover from your own super fund, this approach provides you with a 15% Rollover Rebate.
Professionals Choice offers a Split Income Protection option, which allows you to apply for Income Protection cover both in and out of the Superannuation environment. This allows you to reduce your out of pocket Income Protection premium costs.
You can buy income protection that pays a benefit until typical retirement ages of 65.
We provide cover of up to $60,000 per month.
Pays a monthly benefit for 12 months to support a career transition after an illness or injury.
Pays a monthly benefit if you cease full-time employment to provide full-time care for your dependent child who is incapacitated.
Our philosophy is to keep our benefits current. Hence, we’ll enhance the Professionals Choice product to reflect changes in society and medical enhancements.
Where enhancements do not result in an increase to your premium rates, we’ll automatically pass them onto you. If the enhancement does result in a premium increase, you will be given the option to apply for the enhancement with a related increase to your premium.
As long as you pay your premiums, we’ll continue to insure you with the same or enhanced terms and conditions until expiry. This applies even if you suffer changes to your health, you change occupations (including to non-professional occupations) or you take up different pastimes.
Your insurance covers you wherever you are in the world.
With our Future Increases Benefit and Business Increases Option your insurance cover can keep pace with your changing life, as they allow you to increase your insurance after certain life, professional and business events without the need to provide information about your health.
If you take Parental Leave you can reduce your cover or stop it altogether. When you return to normal working hours you can increase cover to your previous level with no medical underwriting.
If you have stopped work (or reduced your working hours) no more than 12 months ago to go on a Fellowship or for other career-based further Study or Training then you will be assessed against the occupation you were performing immediately prior to commencing the study.
Members of PPS Mutual will be entitled to a share in the profits of the Professionals Choice product. PPS Mutual Professionals Choice is the only product to offer this feature in the Australian Insurance market.
Being exclusively for professionals we are able to offer the option of having benefits increase in line with your salary, based on increases in our Professional Earnings Index or inflation, whichever is greater.
You can also increase your cover without having to provide further medical evidence when certain career events occur such as becoming a partner or starting in private practice
Allows Members to take time off to care for a sick child and receive their Income Protection benefit for up to 6 months.
A flexible premium structure provides for both a stepped and level premium structure for the one insurance type, allowing you to tailor your cover to benefit from the advantages of both premium structures
The plan ownership may be transferred at any time with no underwriting.
Provides the ability to structure Life, Total and Permanent Disability and Income Protection insurances through Superannuation. This provides the choice of paying your insurance premiums either with ordinary funds, with your Superannuation funds, or a combination of both.