Personal insurance in Australia is built around five product types, each one solving a different financial problem. Pick the type matching your question, or compare them side by side.
Most Australians do not need all five at full strength. The right combination depends on dependants, a mortgage, existing super-based default cover, self-employed income, and how you weigh lump sums against ongoing payments. The comparison table and per-type pages below set out coverage mechanics, waiting and benefit periods, expiry ages, tax treatment, and indicative starting premiums sourced from the LRO API.
The information here is factual and general, not a personalised recommendation. The right structure depends on your circumstances, debts, and budget. To see how the trade-offs land for your situation, generate an indicative quote or book a call.
Insurance Types at a Glance
Compare coverage, costs, and key features across all 5 insurance types
| Insurance Type | What It Covers | Waiting Period | Benefit Period | Expiry Age | Tax Deductible | From (monthly) |
|---|---|---|---|---|---|---|
| Life Insurance | A lump sum payment to your loved ones when you pass away. | None (pays on death) | One-time lump sum payment | 99 | No | $10.86 |
| Total and Permanent Disability Insurance | A lump sum if you can never work again due to illness or injury. | Typically 3-6 months after disability | One-time lump sum payment | 70 | No | $26.25 |
| Trauma Insurance | A lump sum if diagnosed with a serious illness like cancer or heart attack. | Typically 14-90 days (varies by condition) | One-time lump sum payment | 75 | No | $31.72 |
| Income Protection Insurance | Monthly payments replacing up to 70% of income if unable to work. | 14, 30, 60, or 90 days (your choice) | 2 years, 5 years, to age 65, or to age 70 (your choice) | 70 | Yes | Quote |
| Business Expenses Insurance | Covers your business running costs if you can't work due to illness or injury. | 14, 30, or 60 days (your choice) | 12 months (standard) | 65 | Yes | Quote |
Indicative age-30 premiums sourced from LRO API on 16 April 2026. Profile: 30yo male, non-smoker, professional occupation, NSW, stepped premiums, monthly frequency. Live LRO refresh cadence: every 6 months.
Explore Each Insurance Type
Click any insurance type to learn more about coverage, benefits, exclusions, and premium examples
Life Insurance
A lump sum payment to your loved ones when you pass away.
- Lump sum payment to beneficiaries upon death
- Replaces your income to support dependents
- Pays off mortgage and debts
Starting from
$20.83/month
Age 30, $500,000 cover
Total and Permanent Disability Insurance
A lump sum if you can never work again due to illness or injury.
- Lump sum payment if permanently unable to work
- Covers both "own occupation" and "any occupation" definitions
- Pays off mortgage and other debts
Starting from
$32.50/month
Age 30, $500,000 cover
Trauma Insurance
A lump sum if diagnosed with a serious illness like cancer or heart attack.
- Covers 40+ critical illnesses including cancer, heart attack, stroke
- Lump sum payment upon diagnosis (not death)
- Immediate funds for treatment and recovery
Starting from
$38.50/month
Age 30, $200,000 cover
Income Protection Insurance
Monthly payments replacing up to 70% of income if unable to work.
- Monthly payments replacing up to 70% of income
- Covers sickness and injury
- Premiums generally tax deductible outside super
Get an indicative quote
Business Expenses Insurance
Covers your business running costs if you can't work due to illness or injury.
- Covers ongoing business expenses (rent, wages, utilities)
- Separate from personal income protection
- Keeps your business operational during recovery
Get an indicative quote