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Income Protection

Protecting your loved ones

Life can sometimes be unexpected—so it’s nice to know that you’ve got a backup plan. Income Protection insurance cover pays a benefit if you temporarily couldn’t work because of an illness or injury.

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What’s Income Protection?

If an illness or injury meant that you were temporarily unable to work—Income Protection pays a benefit to provide you with ongoing income and financial support. It can give you peace of mind and let you focus on your health and recovery.

How does it work?

Income Protection provides a monthly benefit of up to 75% of your monthly income (up to a maximum monthly benefit) during the time that you’re temporarily unable to work due to Illness or Injury. It may also include an option to continue paying your super contributions.

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Am I eligible for this?

The eligibility criteria that applies to you will depend on your age, gender, the product you’ve got with us, your occupation, as well as any arrangements that you may have with your employer.

It’s important to make sure that you don’t have multiple Income Protection policies (also called salary continuance insurance) that you may not need, or be able to claim on. If you have Income Protection elsewhere, it may impact your ability to claim benefits with us.

Your Income Protection benefit may be reduced by benefits received or amounts that you’re expected to receive from other sources. This means that your total benefit won’t exceed the Monthly benefit that you’re entitled to. For more information about what payments may reduce your Income Protection benefit, please refer to the Insurance Guide.


Here are some questions our members have asked about Income Protection insurance cover:

  • If your employer plan hasn’t included Income Protection in your arrangements with us and you’d like to apply for Income Protection—you’ll need to complete an Insurance application form.

    You can use the short form if you’d like to apply for Death only or Death and Total and Permanent Disablement (TPD) insurance (max $1 million including any existing insurance).

    Before completing this form, you’ll need to make sure that questions 1-10 in section 1 ‘Personal Details’ don’t apply to you.

    Otherwise, complete the long form.


  • For MLC MasterKey Business Super, MLC MasterKey Personal Super and MasterKey Super Fundamentals members:

    The maximum monthly benefit payment of your pre-disability monthly income at the date of claim payable to you is:

    • 75% of the first $40,000, and
    • 50% of the next $40,000.
  • The eligibility requirements that apply to you will depend on the product that you have with us.

    Income Protection won’t be available to you if you’re:

    • Not employed,
    • Employed for less than 15 hours a week,
    • Employed as a casual worker, or
    • Employed as a seasonal or contact worker.

    For more information about occupation ratings and what they mean for you, refer to the Occupational Ratings Guide for Insurance.


Louise's story

A smiling person.

Louise was 32, single and enjoying her career as an architect when she had a major car accident that left her hospitalised for 6 weeks and unable to work for 5 months.

Her insurance through MLC MasterKey Business Super included Income Protection, which paid a benefit for up to two years (and had a 90 day waiting period). This meant Louise received fortnightly benefits of 75% of her monthly income for the time she was off work (after her waiting period) – helping cover her essential living costs during this time.

Without Income Protection, Louise would have had to give up her city apartment and move back in with her parents. She may also have had to go into debt to fund her other living costs. But with the protection of a regular Income Protection benefit, Louise could maintain her financial independence – and stay focused on her own recovery.

Other types of cover

Death cover

If you pass away or you’re likely to pass away within 24 months due to a terminal illness—you’ll be able to financially assist your loved ones through a paid benefit.

Total and Permanent Disablement

Sometimes the unexpected happens. If you were to become totally and permanently disabled, Total and Permanent Disablement (TPD) cover can help ease financial pressures by paying you a benefit payment.