Income Protection premiums and benefits

Income Protection premiums are based on your age, monthly benefit, waiting period and benefit period.

With Income Protection, the cost increases over time, however the level of cover stays the same. You can apply to increase your income protection without providing additional medical evidence with Salary Increase cover.

Income Protection premiums

Income protection cover is unitised and provided in multiples of $433 per month (or $100 per week). The following tables show the cost of Income Protection cover for all of the waiting periods and benefit periods.

90-DAY WAITING PERIOD

Annual premium* ($) per unit of Income Protection cover of $433 per month (or $100 per week)


Age
(next birthday)
2-year benefit period 5-year benefit period To age 65 benefit period

15-39

6.34

11.32

24.78

40-44

10.49

18.72

41.02

45-48

16.10

28.74

62.95

49-51

22.56

40.28

88.21

52-54

26.03

46.48

101.81

55-57

36.35

64.90

142.13

58-60

39.19

69.99

153.28

61-63

48.20

71.91

71.95

64

38.29

38.29

38.29

65

12.77

12.77

12.77

60-DAY WAITING PERIOD

Annual premium($) per unit of Income Protection cover of $433 per month (or $100 per week) 

Age
(next birthday)

2-year benefit period

5-year benefit period

To age 65 benefit period

15-39

8.60

14.38

31.57

40-44

14.24

23.78

52.24

45-48

21.85

36.51

80.20

49-51

30.62

51.15

112.38

52-54

35.34

59.04

129.70

55-57

49.33

82.42

181.08

58-60

53.20

88.88

195.27

61-63

57.57

87.79

87.79

64

47.49

47.49

47.49

65

15.84

15.84

15.84

30-day waiting period

Annual premium* ($) per unit of Income Protection cover of $433 per month (or $100 per week) 

Age
(next birthday)

2-year benefit period

5-year benefit period

To age 65 benefit period

15-39

12.34

20.59

45.37

40-44

20.40

34.08

75.10

45-48

31.34

52.32

115.27

49-51

43.91

73.30

161.51

52-54

50.67

84.61

186.42

55-57

70.75

118.13

260.27

58-60

76.29

127.38

280.66

61-63

77.71

119.44

119.44

64

66.64

66.64

66.64

65

22.23

22.23

22.23

* Premiums shown include stamp duty and an administration fee of 6% of the insurance premium charged to cover the costs associated with administering the insurance arrangements. The administration fee is inclusive of GST and any tax credits that are applicable to the Trustee. Please note, insurance premiums are not fixed and can be expected to change from time to time. Members will be given written notice of any changes.


Income Protection cover: an example

If you have 15 units of Income Protection cover with a two-year benefit period and a 60-day waiting period and your age next birthday is 51, the annual premium payable would be $30.62 per unit. The total annual premiums would be ($30.62 x 15) = $459.30.


Changing your cover

You can apply to increase or cancel your insurance cover by logging in to your account.
Learn more about changing your insurance cover.

Making a claim

If your claim is accepted, you’ll receive a monthly benefit that is the lesser of:

  • the amount represented by the number of units our Insurer last accepted for you, and
  • 85% of your monthly pre-disability income (with up to 10% paid as a super contribution).

Find out how to make a claim.

Need some advice?

UniSuper Advice helps thousands of members navigate the financial side of important life events each year.

Talk to UniSuper Advice on 1800 823 842 and see how they can help you.

This page provides a snapshot of the types of insurance cover that may be available to UniSuper members. Before making any decisions, read the PDS relevant to your membership category and the Insurance in your super booklet.