Tae & Partners

Glossary / TPD and income protection

Income protection

All statesTPD and income protection

Insurance that pays a monthly benefit while illness or injury prevents a person from working. It does not require permanence.

Income protection pays a percentage of pre disability earnings, or an insured monthly amount, for as long as the person cannot work during the fixed benefit period in the policy. It can sit inside superannuation or in a policy held directly, and many people hold it alongside TPD cover without knowing.