We all rely on our incomes to pay the bills and care for our families. If you got sick or injured and couldn’t work, would you be able to support yourself and your family while you recover? NRMA Income Protection helps protect you or your family’s financial security, with a regular monthly payment if you are unable to work due to sickness or injury.
Cover for up to 85% of your pre-tax income paid monthly up to $10,000 a month depending on your cover type if you are unable to work due to sickness or injury
All Australian residents aged 18-60 can get cover with our online quote or over the phone on 132 825 between 8am and 8pm (AEST), Monday to Friday
Choice to extend your cover to include optional covers such as Involuntary Unemployment Cover, Kids Injury Cover, Holiday Injury Cover or Permanent Disability Cover
If you’re already an NRMA Insurance policyholder you’ll get an extra 5% discount on your premiums
When you take out an Income Protection policy and choose to pay annually you will get one month cover free every year
You can add your spouse or partner to your NRMA Income Protection policy and get a 5% discount on your premiums
You can rely on the financial strength and security of a policy supported by NRMA Insurance, one of Australia’s most trusted insurers, and TAL Life, Australia’s leading specialist life insurer
Kids Injury Cover – Receive a lump-sum payment of between $1,000 and $50,000 if your child suffers one of a number of common childhood injuries or impairments, so you can give the care they need without worrying about the cost.
Permanent Disability Cover – Receive a lump-sum payment of $50,000 to $500,000 if you become permanently disabled, to help you pay for the cost of long term care, for example.
Involuntary Unemployment Cover * – Receive up to three months of payments while you look for work, if:
You’re made redundant from a full-time job, or you’re self-employed and your business becomes insolvent
You’ve had Involuntary Unemployment Cover for at least six months
* Involuntary Unemployment Cover is generally available if you are working on a permanent basis for 30 hours or more per week. You can choose to opt out of this cover to reduce the cost of your premiums. If you change your mind later, you can add it at any time, provided you meet the eligibility requirements.
Making a claim
Call us on 132 825 or download a Claim Form
Our commitment to the Life Insurance Code of Practice
We fully support the work of the Financial Services Council in lifting the standards of insurer practices across the Life Insurance industry. We’re committed to providing our customers with the best possible customer service standards. Find out more about our commitment to the Life Insurance Code of Practice
The information on this website about NRMA Income Protection is general advice only and does not take into account your personal financial situation, needs or objectives. You should consider the Product Disclosure Statement and Financial Services Guide and your own circumstances before deciding to purchase or to continue to hold NRMA Income Protection. NRMA Income Protection is promoted by IAL Life Pty Limited ABN 15 137 509 936 an Authorised Representative (AR No. 427847) of TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260. NRMA Income Protection is issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (except for Involuntary Unemployment Cover which is issued by St Andrew’s Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649). IAL Life Pty Limited is a subsidiary of Insurance Australia Limited ABN 11 000 016 722 trading as NRMA Insurance. All life insurance information on this website is provided by TAL Direct Pty Limited and IAL Life Pty Limited.
Why choose NRMA Insurance?
NRMA Income Protection offers you peace of mind, with:
One of the highest levels of cover online or over the phone — up to $10,000 a month depending on your cover type
Payout periods up to five years
Cover options for all Australian residents aged 18-60 including those who traditionally cannot get income protection
Other great optional extras you can add to your policy
Choose from these retailers once you’ve made your 3rd payment:
Compare cheap life insurance quotes
We compare the leading life insurance policies with prices starting from just £5 per month
We’re here to help you get the protection you need
What is life insurance?
Life insurance is a type of insurance contract which pays out a lump sum to your dependants should you pass away during the term of the contract. The cost of a policy is determined by a number of factors including your age, health and lifestyle.
Why should I take out life insurance?
Life insurance is a vital part of financial planning for anyone who has dependants.
By ‘dependants’, we mean anyone whose circumstances and material wellbeing would be affected by your death – for example, your partner, your children or anyone else who is financially reliant on you.
Thinking about your death and its inevitable impact on your family’s circumstances is difficult – and many people simply shy away from the topic. But not doing anything could put loved ones at financial risk. That’s why it’s important to confront the issue and take out life insurance.
How does life insurance work?
In most cases, the most effective form of life insurance is called ‘term’ insurance.
This type of policy pays out an agreed amount – the ‘sum insured’ – either as a lump sum or as a regular income, if you die within a specified period – known as the ‘term’.
You choose the size of the pay-out and the length of the term. For example, you may decide to have cover in place until your children are grown up and have left home.
These decisions aren’t always straightforward, which is why we’re here to help. Our dedicated page on how to work out the amount of life insurance cover you need will help you arrive at a sum insured that reflects your family situation.
What’s the average cost of life insurance and what affects the price?
Life insurance policies can start from just £5 a month.
However, the cost will vary depending on factors such as your age, health, occupation, whether you smoke, length of the term and whether you choose add-ons such as critical illness cover.
MoneySuperMarket found that smokers on average pay £18 more a month for life insurance compared to non-smokers*. And adding critical illness cover, which pays out on the diagnosis of one of a list of serious medical conditions, typically increases your payments by almost £28 per month**.
An alternative to straightforward term insurance, where the amount of cover stays the same for a set number of years, is what’s known as ‘decreasing’ term insurance, where the amount of cover reduces over the years (usually in line with a mortgage). This means decreasing term insurance costs less, all other things being equal.
Why it pays to buy life insurance when you are younger
As a rule of thumb, the earlier you take out life insurance, the cheaper your policy will be.
If you’re in your 20s life insurance is unlikely to be a priority. But MoneySuperMarket research shows that taking out a policy in your 20s can be as much as two times cheaper than taking out cover in your 40s***.
The reason for this is simple – insurers consider you less likely to make a claim the younger you are.
The chart below shows the average monthly premium for life insurance depending on the age of the policyholder. But keep in mind each insurer will differ in how much emphasis they give to factors such as your occupation, medical history and lifestyle, so your personal quote is likely to be different.
Whether you’re buying your first home, getting married or thinking about having children, taking out life insurance as a young adult can be a cost-effective way to plan for your financial future.
Are there life insurance policies which come with a gift?
You can compare a wide range of life insurance policies on our comparison tables. And if you take out life cover through MoneySuperMarket, you will receive a £75 voucher from Argos, M S or Next.
Your voucher of choice is redeemable within 40 days of your third life insurance payment. T Cs apply. You can find out more here.
Get a £75 voucher when you take out Life Cover through MoneySuperMarket
Choose from a range of retailers once you’ve made your 3rd payment
We have made it easy to choose the right life insurance policy at the lowest price.
Affordable Life Insurance Rates
Join the countless satisfied customers that have found affordable life insurance policies by utilizing our completely free service. Instead of having to visit a life insurance agent in person or comparison shop across multiple websites, you now have the ability to compare life insurance rates from the comfort of your own home. Don’t wait any longer to find cheap life insurance. Within minutes you will receive life insurance rates from leading companies such as Gerber Life Insurance, MetLife, AIG Insurance, Prudential, and many more. Simply enter your zip code and get your free life insurance rates today!
So, now that you have found the ultimate resource that allows
you to compare life insurance rates, what type of coverage do you need?
Brian is a certified life insurance, estate planning and financial service specialist with over 15 years of experience.
If you are one of the many consumers wondering if you are required to undergo a medical exam when applying for coverage, we have answers.
Whole Life Insurance
“Provides Complete Protection”
Fixed premiums that offer stability
Tax-deferred cash value that will grow
Guaranteed death benefit payout
Ability to borrow against cash value
Coverage for your entire life if kept current
Term Life Insurance
“Offers Affordable Coverage”
Least expensive form of life insurance
Easy to understand and manage policy
Complete coverage at a great low rate
Guaranteed death benefit for current plans
Flexible term lengths
“The Flexible Payment Option”
Adjustable premiums for maximum flexibility
Guaranteed interest rate
Annually adjustable death benefit
Guaranteed monthly income option for beneficiaries
Policy can be maintained indefinitely
“Protects Your Legacy”
Covers two people, commonly spouses
Control over estate and legacy
Beneficiaries receive full amount of policy tax-free
Also known as second to die life insurance or joint insurance
Intended for wealth preservation
Free Life Insurance Quotes in Minutes
Your time is valuable. We have simplified our form to make it easy to complete within minutes. Once you have provided some basic contact information and medical details, you’ll receive life insurance quotes from a number of prestigious companies and can choose the premium that fits your budget. Buying life insurance is easier than ever before. Some life insurance companies require a basic medical exam, which can be completed at your home or office in a manner of minutes. You may even qualify for a streamlined non-exam plan from select providers.
The Importance of Life Insurance
Life insurance is one of the most important decisions you can make to give you and your loved ones financial security and peace of mind. If you were to die prematurely, how would your mortgage or debts be paid off? What would replace your much-needed income? How would your children be able to attend college? Buying life insurance answers these lingering questions and can put an end to uncertainty. Even if you live a healthy lifestyle, life insurance is an essential component of planning your retirement.
Once you submit the simple form, you can rest assured that our advanced matching process will put you in touch with reputable local agents who will help you find the best life insurance cost and a plan that meets your needs. If you have questions about life insurance claims or need to file a claim, our informative guides can help you. You may be wondering if a medical condition will affect your life insurance rates. The answer could be closer than you think. These guides also allow you to compare the different aspects of each life insurance policy and choose the best life insurance type for you and your family.
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There’s nothing more important than family, and for more than 100 years, customers have turned to Farmers New World Life Insurance Company to help protect the financial security of their loved ones.
Getting Started With Life Insurance
Life insurance is a great way to help prepare for life s unexpected moments. Like most of us, you probably worry about the future. Can we pay off the house? Will my kids get a good education? Will they grow up healthy and happy?
With life insurance, you can know that no matter what tomorrow may bring, you can help support your family s financial future.