Income Protection Insurance – What Can I Claim?
You can salary package the cost of an income protection insurance policy using pre-tax income if this benefit is provided by your employer, the policy provides cover for loss of earnings due to illness or injury, and you have paid the premium directly.
What you can claim
- Income protection insurance premiums paid by you
- Policies that cover loss of earnings due to illness or injury
- Premiums where you can provide the current policy document and proof of payment
What you can't claim
- Insurance premiums that were not paid directly by you
- Insurance premiums paid through your superannuation
- Claim without a current insurance policy document and proof of payment
Documentation Requirements
What documents do I need?
You’ll need a copy of your current insurance policy, either for a new policy or renewal. The policy should show your name, the insurer’s name, the policy type, the premium amount, and any stamp duty or GST if available.
What proof of payment can I provide?
You can provide a receipt, BPAY payment confirmation, or a financial institution statement showing the payment(s).
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Examples
Can I salary package my income protection insurance premium?
Emma paid her income protection insurance premium directly, and the policy provides cover for loss of earnings due to illness or injury. Income protection insurance is an eligible expense, so Emma can submit a claim as long as she provides a copy of the insurance policy, along with proof of payment.*
Can I claim insurance paid through my super?
Liam has income protection insurance that is paid through his superannuation arrangement. Income protection insurance premiums must be paid directly by the claimant to be eligible, so Liam cannot submit a claim for this expense.*
Can I claim without the policy document?
Olivia paid her income protection insurance premium directly but does not have a copy of her current policy document. Income protection insurance claims require both the current policy document and proof of payment, so Olivia cannot submit a claim until she provides the required supporting documentation.*