Can I change my waiting period later?

Yes. Most insurers allow changes, but this may require underwriting and could affect your premium.

What happens if I return to work during the waiting period?

If you return to work before the waiting period ends, benefits generally won't be paid. However, a relapse within a defined timeframe may be treated as a continuation rather than a new waiting period.

How do I decide on a suitable waiting period?

Look at your monthly expenses, available sick leave, and emergency savings. Ask yourself how many months you could manage without income - this usually points clearly to the right waiting period.

Income Protection vs Life Insurance - What's the Difference?

Introduction

These two products serve very different purposes: one protects your income while you're alive, and the other provides a financial legacy when you pass away.

📈 Income Protection Vs Life Insurance Feature Comparison

Here's a high level overview of how they compare:

Feature	Income Protection	Life Insurance
Payout Type	Monthly income benefit	Lump sum payout
Purpose	Provides income if you're unable to work due to illness or injury	Pays out to your beneficiaries upon death or terminal illness
Claim Trigger	Must be unable to work due to medical condition	Death or diagnosis of a terminal illness (12–24 month prognosis)
Death Benefit	Some policies include a small death benefit (e.g. 6× monthly benefit)	Full sum insured paid to nominated beneficiary
Claim Process	Ongoing assessment and proof of income loss	One-time claim with death certificate or medical evidence
Cost Comparison	Based on income, waiting/benefit period and occupation	Based on age, health, smoking status and sum insured
Tax Treatment	Premiums may be deductible; benefits are taxable	Premiums not deductible; payouts typically tax-free

📝 Key Takeaways

✔️Life insurance and income protection cover very different needs.
✔️Income protection supports you financially while recovering from illness or injury.
✔️Life insurance creates a financial safety net for your family after death.
✔️Income protection death benefits are modest and not a replacement for life insurance.

Frequently Asked Questions

🎯 Looking for other covers?

Get a full quote, you can easily adjust the waiting period (and any other aspect) at the end of the quote process to see how different options affect your premium.

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