Income Protection Comparisons

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Accident Insurance

Accident insurance, or personal accident insurance, financially protects you in the event that you suffer from an accident which prevents you from working. Unlike income protection insurance, accident insurance pays up to 75% of your income if you suffer from an accidental injury only, not sickness.

Compare Accident Insurance Policy Benefits

Accident insurance is only offered by a select few insurers in Australia.


When deciding on which accident insurance policy is best, you should compare the benefits available. Such policy features and benefits can include:


  • Benefit period – this is the period of time that benefit payments are made to you. Just like income protection insurance, you can select from 2 years, 5 years or until age 65.
  • Waiting period – this is the period of time you must wait until your claim benefits start being paid to you. Generally the waiting period for personal accident insurance ranges from 14, 30, 60, 90, 180, 360, up to 720 days.
  • Monthly benefits – your monthly benefits will depend on a number of factors such as your occupation, salary and others.
  • Exclusions – these may include pre-existing conditions
  • Total and partial disability – it is vital that you check your policy to ensure you are covered for both.

Accident Insurance For Those Who Cannot Get Income Protection

If you have been denied income protection insurance cover in the past due to medical reasons or pre-existing medical conditions, accident insurance may be a good alternative.


Such medical conditions may be heart attack, heart disease, or recent cancer.

Accident Insurance Exclusions

As with all policies, it is important to understand what is, and what is not covered. This also applies to accident insurance, as exclusions do differ from other types of personal insurance.


Such policy exclusions can include self inflicted injuries, attempted suicide, dental injuries and all sicknesses.