Income Protection Insurance
Income Protection Insurance for Employees and the Self-Employed
Explore income protection insurance options for employees, contractors, and self-employed Australians, including how cover may apply if illness or injury stops you from working. Speak with an insurance specialist today on 03 9191 8808
What is Income Protection Insurance?
Income protection cover is a long-term insurance policy designed to replace a portion of your regular income if you are unable to work due to illness or injury. Rather than paying a lump sum, it provides ongoing monthly payments to help you manage essential financial commitments while you recover. This may include rent or mortgage repayments, utilities, groceries and other household expenses, helping to ease financial pressure on you and your family during a challenging time.
The benefit payable depends on factors such as your waiting period (how long before payments begin) and benefit period (how long payments continue). These features influence how the policy responds, so it’s important to understand your options. At Panorama Financial Services, we assess your circumstances and guide you in selecting cover that aligns with you best.
Who we help
How our process works
1. Discovery
We take the time to understand your personal circumstances and priorities, as well as identify potential factors that can influence your premiums.
2. Strategy & implementation
We provide clear, tailored advice on income protection policies that help protect you and your dependents, while also handling the entire application process.
3. Ongoing review & support
As time goes on, we review your cover to make sure it still suits your specific needs and that you’re not paying for a policy that is no longer relevant.
Income Protection Insurance
What makes our approach to income protection insurance different?
At Panorama, we prioritise your personal experience and peace of mind. We take the time to assess your unique circumstance with care and provide a hands-on approach to produce the best outcome for you and your loved ones.
We use over 40 years of combined industry experience to handle the entire application process, where we take on all aspects of the insurance process, from discovery through to application. You can count on us to navigate complex legislation and spell out all relevant information in clear terms, saving you time, money and unnecessary stress overall.
However, our true point of difference exists in our approach to claims. If you or your loved one is unexpectedly unable to work, you can rely on our advisers to advocate on your behalf and secure the funds you’re entitled to. We liaise with all relevant parties, including doctors, lawyers, and other necessary professionals, allowing you to direct your efforts into recovery and rehabilitation.
Meet the team
With over 40 years of combined experience, our industry-recognised professionals are here to ensure financial security and peace of mind for families, individuals and businesses.
Mark Crowe
Director
Bachelor of Business in Financial Risk Management / Diploma of Business in Banking & Finance
Thuy Nguyen
Adviser
Bachelor of Business in Financial Risk Management / Diploma of Business in Banking & Finance
Liana Bui
Service Manager
Bachelor of Business in Financial Risk Management / Diploma of Business in Banking & Finance
Testimonials
Life is too short to be caught up in the paperwork. Let us help!
We’ll bring the conversation to you if you if you would prefer to meet you online. Let’s start the conversation to get to know you, where are you at now and can we help you with your insurance and superannuation solutions.
Have more questions?
We’re here to help you protect what matters most.
Whether you’re planning for your family, your future, or your business, our team listens, simplifies, and guides you every step of the way.
Reach out and let’s build your peace of mind together.
Case studies
Our case studies show how practical, tailored advice helps navigate complex financial and insurance decisions in real-world situations.
Sheen Panel Service
Sheen Panel Service is Victoria's leading smash repairer, operating 27 panel shops across the state as well as three…
Our Insurance Partners
We do all the hard work, running around talking with these insurance partners to come up with the best deal for you.
We are big believers in giving back
We love team sport. It teaches you so much about life and in many ways prepares you for business. Learning about goal setting, working as a team, working with other people, how to handle success and how to handle failure. Some of the charities community groups we give back to:
Frequently asked questions
Explore some common questions about income protection insurance.
Income protection insurance is a policy that replaces a portion of your income if you can’t work due to illness or injury. It typically pays up to 70% of your pre-tax earnings for a set benefit period. Payments help cover everyday expenses like rent, mortgage, and bills while you recover and return to work. To learn more about how income protection can apply to your unique situation, get in touch with one of our friendly advisers today.
In Australia, income protection insurance pays a monthly benefit if you’re unable to work due to sickness or injury. After a waiting period (for example, 30–90 days), you receive up to 70% of your income for an agreed benefit period. Policies can be held through superannuation or privately, and premiums may be tax-deductible. Panorama Financial Services can assist you in understanding the best choice for you and your family.
Generally, income protection insurance does not cover redundancy or job loss caused by business downturns, restructuring, or economic conditions. These policies are specifically designed to replace part of your income if you’re medically unable to work due to illness or injury. If you want cover for involuntary unemployment, you would need a separate policy that includes redundancy protection.
Most insurers allow cover for up to 70% of your gross income. The right amount depends on your expenses, debts, dependents, and existing savings. Ideally, your benefit should comfortably cover essential living costs like mortgage repayments, utilities, and groceries while you focus on recovery without financial stress. Our team of friendly financial advisers can provide you with a clear outline of what your unique situation looks like and how to best safeguard it.
Even with savings, income protection insurance can be valuable. Serious illness or injury can prevent you from working for months or years, quickly depleting savings. Insurance provides consistent monthly payments, helping preserve your emergency fund and long-term investments while maintaining financial stability during recovery. In any case, it never hurts to get in touch with a financial professional to develop a clear understanding of what your options are and discover your best approach.
Book a time
Organising income protection insurance doesn’t have to be complex.
Get in touch with one of our specialists today.