Super

Income protection cover provides a monthly benefit when you are unable to work due to sickness or injury, for longer than the waiting period you select. This benefit will be paid monthly for a maximum period of two years or until you reach age 65, depending on the type of cover you choose.

Quadrant's income protection cover is unit-based with each unit of cover providing a benefit of $375 per month. The benefit cannot exceed 75% of your average gross pre-disability income, the amount you are insured for or $25,000 per month (whichever is lower).

Where 75% of your average pre-disability income is less than the amount you are insured for, any amount greater than this can be paid as superannuation contributions to your Quadrant account up to a maximum of 10% of your average gross pre-disability income.

The premium for your income protection cover depends on a number of factors including your age next birthday, the number of units you are insuring, your occupational category and the length of your waiting period.

Standard income protection cover

If you are a new Quadrant Investment Choice member and apply for income protection as part of your standard cover (Package Choice Option 1) you are able to select up to 15 units ('office' category) or 12 units ('general' category) of income protection cover without the need to provide any health evidence. This will provide a benefit paid monthly up to a maximum period of two years.

If the amount of cover provided under Package Choice Option 1 does not meet your needs or you would like to apply for cover that will provide a benefit payable to age 65, you will need to apply for tailored income protection cover. However this cover will be subject to health assessment by the insurer. Please refer to the Insurance Information Guide for more information.