About Our Online Income Protection Insurance

Aspect Underwriting provides one of the best online income protection insurance policies in Australia and is located in Collingwood, Melbourne. Purchased by around 2000 individuals, our income protection insurance policy will replace the majority of your income if you’re unable to work due to illness or injury. To buy such income protection covers usually requires you to go through medical tests, sit for rounds of meetings and discussions with insurance agents, before being able to purchase the cover. We cut this short with our end-to-end online income protection insurance quote and purchasing system. Using this service, you can get a quick income protection quote and get fully covered in 10 minutes by purchasing it online– without ever calling or meeting us!
As a specialist insurance intermediary agency that is led by Mike Wallis, Australia’s leading accident & health insurance specialist with over 20 years of experience in the sector, we offer you the best experience you will have in buying and claiming income protection insurance cover in Melbourne and Australia-wide.

Aspect UW awarded Authorised Representative of the Year 2019, from McLardy McShane Insurance & Financial Services.

Aspect Underwriting’s income protection policy is backed by Lloyd’s which is the world’s specialist insurance market. With expertise earned over 300 years, Lloyd’s is the foundation of the insurance industry and the future of it. As one of its Coverholders, Melbourne-based Aspect Underwriting is proud to avail its thoroughly researched and managed income protection policy package. Whether you have a blue collar, white collar or any other type of job, our income protection policy covers it all. Get a quick customised income protection quote now and start planning for your future with the experts to secure cover up to 85% of your income now!

Key Features

  • We cover up to 85% of your income, that’s 10% more than most others.
  • We offer a lot of flexibility in terms of benefit period and your waiting period.
  • We provide a partial disablement benefit, not just a benefit for permanent disablement.
  • We cover you even if you are 65 years old, many of our competitors only offer cover to Age 60.
  • We waive your premium while you are receiving our income protection benefits.
  • Along with income replacement, we might even pitch in towards rehab assistance.
  • You can receive homemaker assistance if your spouse or partner is injured or ill for 24+ hours
  • You can pay an extra premium (only 10%) for additional benefits including housekeeper, childcare expenses and elective surgery.

What is Income Protection Policy & Why Should You Have One?

What is Income Protection?

An Income Protection insurance policy is a product that replaces the majority of your income if you’re unable to work due to illness or injury. Protecting regular income is at the heart of sound financial planning.
The reality is that you are likely to suffer a health condition at some point in your working career that may take you to a financially challenging place.
The question then becomes, can you afford to go for a period of time with no income? If you are in such a position, having your income protected provides you with significant peace of mind so that you can focus on getting better.

Why should you cover your income?

Here are some stats for you to consider to help you decide:

  • Around 786,000 Australians experienced a health condition resulting in time off work and income support from a government or private source during the 2015/16 financial year.
  • To put that into context, this was about 50,000 more than the number of unemployed people as at June 2016.
  • At least a further 6.5 million people accessed sick leave for short-term illness.

Now supposing that you are to be one of them, would you be able to go for a period of time with no income? Think about that. Stay smart, be proactive today and ensure a steady stream of income should the hard times ever arrive!

Types of Income Protection

As a specialist insurance agency in Collingwood, we have been offering customised income protection covers to our clients tailored to their specific needs. Broadly speaking income protection can be known by other names such as Salary Continuance (SC) or Total Temporary Disablement (TTD) but they all offer the same protections.

The major areas of difference from one of these policies to the next are:
a) Waiting Period (usually 14, 30, 60 or 90 days)
b) Benefit Period (usually 1, 2 or 5 years or ‘To Age 65’)
c) Percentage of your income (usually 75%, Aspect offers up to 85%)
d) Maximum Benefit – Some insurers will cap how much your benefit is, regardless of how much you earn. Aspect Income Protection cover pays up to $42,000 per week, as long as your income justifies it, for the nominated waiting period.

Coverage of income protection policy

While purchasing an income protection insurance policy, you have to understand that it covers illness and injury that prevents you from working, after the expiry of your selected waiting period. Aspect income protection policy does not cover unemployment.
Although some policies offer a small ‘involuntary unemployment’ benefit as an extra. Along with that, standard exclusions are pre-existing conditions; war & terrorism; flying (except as a passenger on a commercial airline); intentional or self-inflicted injury; professional sports are not covered in Aspect income protection cover.

Aspect Intelligent Cover Builder

Based on extensive working experience as Lloyd’s Underwriters, Aspect provides you with the ability to custom design your cover using the Aspect Intelligent Income Protect Cover builder, purchase the cover, and pay for it online without ever spending time visiting us.
The experience is seamless and the system gives you the full power and resources to build an income protection cover that is best suited to you. Our system provides you the flexibility to add additional covers to your Aspect Income Protection Cover including – Accidental Death Cover, Total Permanent Disability (TPD) Cover and Trauma Cover. In case you need any human assistance, we are always available online or can schedule a meeting to meet in person.

What is the Aspect IP Claim Process?

Just like our income protection insurance cover issuance process, our income protection claim process is also hassle-free. To make a claim, download the Aspect Income Protection Claim form, print it and fill in the details. The form also needs some information to be filled by your doctor and your employer/accountant. Once all the necessary information has been filled, mail it to the following address.
Aspect Underwriting Claims Centre
PO Box 14
Brisbane, QLD 4556
As soon as we receive your claim, we will get in touch. Click here for more information on Aspect income protection claim process.

  • What is Income Protection?

    An Income Protection insurance policy is a product that replaces the majority of your income if you’re unable to work due to illness or injury. Protecting regular income is at the heart of sound financial planning.
    The reality is that you are likely to suffer a health condition at some point in your working career that may take you to a financially challenging place.
    The question then becomes, can you afford to go for a period of time with no income? If you are in such a position, having your income protected provides you with significant peace of mind so that you can focus on getting better.

    Why should you cover your income?

    Here are some stats for you to consider to help you decide:

    • Around 786,000 Australians experienced a health condition resulting in time off work and income support from a government or private source during the 2015/16 financial year.
    • To put that into context, this was about 50,000 more than the number of unemployed people as at June 2016.
    • At least a further 6.5 million people accessed sick leave for short-term illness.

    Now supposing that you are to be one of them, would you be able to go for a period of time with no income? Think about that. Stay smart, be proactive today and ensure a steady stream of income should the hard times ever arrive!

    Types of Income Protection

    As a specialist insurance agency in Collingwood, we have been offering customised income protection covers to our clients tailored to their specific needs. Broadly speaking income protection can be known by other names such as Salary Continuance (SC) or Total Temporary Disablement (TTD) but they all offer the same protections.

    The major areas of difference from one of these policies to the next are:
    a) Waiting Period (usually 14, 30, 60 or 90 days)
    b) Benefit Period (usually 1, 2 or 5 years or ‘To Age 65’)
    c) Percentage of your income (usually 75%, Aspect offers up to 85%)
    d) Maximum Benefit – Some insurers will cap how much your benefit is, regardless of how much you earn. Aspect Income Protection cover pays up to $42,000 per week, as long as your income justifies it, for the nominated waiting period.

    Coverage of income protection policy

    While purchasing an income protection insurance policy, you have to understand that it covers illness and injury that prevents you from working, after the expiry of your selected waiting period. Aspect income protection policy does not cover unemployment.
    Although some policies offer a small ‘involuntary unemployment’ benefit as an extra. Along with that, standard exclusions are pre-existing conditions; war & terrorism; flying (except as a passenger on a commercial airline); intentional or self-inflicted injury; professional sports are not covered in Aspect income protection cover.

    Aspect Intelligent Cover Builder

    Based on extensive working experience as Lloyd’s Underwriters, Aspect provides you with the ability to custom design your cover using the Aspect Intelligent Income Protect Cover builder, purchase the cover, and pay for it online without ever spending time visiting us.
    The experience is seamless and the system gives you the full power and resources to build an income protection cover that is best suited to you. Our system provides you the flexibility to add additional covers to your Aspect Income Protection Cover including – Accidental Death Cover, Total Permanent Disability (TPD) Cover and Trauma Cover. In case you need any human assistance, we are always available online or can schedule a meeting to meet in person.

    What is the Aspect IP Claim Process?

    Just like our income protection insurance cover issuance process, our income protection claim process is also hassle-free. To make a claim, download the Aspect Income Protection Claim form, print it and fill in the details. The form also needs some information to be filled by your doctor and your employer/accountant. Once all the necessary information has been filled, mail it to the following address.
    Aspect Underwriting Claims Centre
    PO Box 14
    Brisbane, QLD 4556
    As soon as we receive your claim, we will get in touch. Click here for more information on Aspect income protection claim process.