Major Illness Lump Sum benefit

If you experience cancer, heart attack, stroke or coronary artery bypass surgery, we’ll pay you a lump sum equal to six months of your monthly income-protection benefit so you can pay for things you and your family need.

Payment up to 5 years

Ozicare offer a range of benefit periods. If you’re unable to work due to sickness or injury, you can be paid a benefit for a maximum of 1, 2 or 5 years – you decide.

30 or 60-day waiting period

You can choose a 30- or 60-day waiting period. If, after serving the waiting period, a doctor confirms you’re still too unwell to return to work, Ozicare will start paying you your monthly benefit.

Children’s Care benefit

If you have to take time off work to care for your ill or injured child (aged 3 to 17), we’ll pay you 25% of your monthly income protection benefit – up to a maximum of $2,000 a month for a maximum of three months. These additional benefits are included in your cover at no extra cost to you.

Up to 75% of your monthly income

You can receive a monthly benefit up to 75% of your pre-tax income (up to a maximum of $10,000 per month) until you’re well enough to return to work or your cover ends (whichever occurs first).

Cover until the age of 65

Your cover will be automatically renewed each year until you turn 65, regardless of changes in your health, occupation and pastimes.

Income Protection Major Illness Lump Sum Children’s Care

Eligibility age

18 to 59 18 to 65 3 to 17 (child)

Benefit

75% of your regular monthly income (up to $10,000 per month) Lump sum equal to 6 months of benefits 25% of your monthly benefit, up to $2,000

Waiting period

30 or 60 days 3 months 14 days (injury); 30 days (illness)

Benefit period

1, 2 or 5 years Lump-sum payment* Maximum of 3 months

*Paid upon diagnosis. If, six months after diagnosis, you are still unable to work in your usual occupation, you will receive your nominated monthly benefit.

Find out more

The information on this page is a summary only. For more details about Ozicare Income Protection Cover, including the terms, conditions, limits and exclusions that apply, please read the Product Disclosure Statement.

How to make a claim

If you need to make a claim, we’re here to help you through the process as quickly, efficiently and compassionately as we can. If you, your beneficiary or a family member need to make a claim under your Ozicare Life Insurance policy, please call us on 1800 421 034 or email life.claims@ozicare.com.au.

You can get an income protection cover quote online in 60 seconds – you won’t need to fill out complicated forms or have a medical check-up or blood test.

Is income protection insurance taxed?

Generally, the premiums you pay are tax-deductible and any monthly benefits you receive are taxed as income. Before making any decisions, you should seek financial advice from an accountant or tax agent.

Can’t I get income protection insurance through my super fund?

Most super funds offer life insurance for their members, including income protection. By shopping around – comparing your super fund’s costs and cover with other providers’ like Ozicare – you can make sure you get the cover you need at a competitive price.

See all FAQs

What’s not covered

There are some situations or circumstances that are not covered by Income Protection Insurance - these are called ‘exclusions’.

For example, the policy does not cover loss of income due to redundancy (also known as involuntary unemployment); or serious illnesses or injuries resulting directly or indirectly from things such as: