WIP Income Protection (Group)
by WIP Group
Commercial Insurance
AUD 500 /year
AUD 60K
All States
Yes
- Accident and Sickness
- superannuation funds
- corporations
- associations
- unions
Product Overview
WIP Income Protection (Group) by WIP Group is designed for businesses and organisations that want to protect their people from life’s unexpected turns. This group insurance solution helps cover employees’ income if they cannot work due to accident or sickness, giving peace of mind to both employers and staff.
The product offers flexible options that suit different group needs, with cover starting from AUD 500 per year and going up to AUD 60,000. There is no excess, and the policy is available across all states in Australia. The policy is available to superannuation funds, corporations, associations, and unions, making it a fit for a wide range of organisations.
About WIP Income Protection (Group) by WIP Group
Cover can be tailored with different waiting and benefit periods, and up to 85% of pre-disability income can be insured. The policy also includes features like rehabilitation support, family benefits, and optional extras that can be added to suit each group’s needs. WIP Group works with both local and international insurance markets to deliver competitive, reliable solutions.
Insurance brokers must have a contract to access WIP Income Protection (Group) by WIP Group. For more details or to discuss cover options, brokers can use the ‘Contact Underwriter for Quote’ or enquiry features on this page.
WIP Income Protection (Group) by WIP Group FAQs
What types of organisations can access the policy?
WIP Group’s WIP Income Protection (Group) is available to a range of organisations. These include superannuation funds, corporations, associations, and unions. This group cover is designed for businesses and organisations that want to protect their members or employees with tailored income protection.
What types of events are covered by WIP Income Protection (Group) by WIP Group?
This group policy covers loss of income if a member cannot work due to accident or sickness. It provides financial support during recovery, helping members manage living costs until they can return to work. The cover is designed to address unexpected events that impact a member’s ability to earn.
Can WIP Income Protection (Group) by WIP Group be customised for different organisations?
Yes, the policy can be customised to suit the needs of each group. Organisations can tailor waiting periods, benefit periods, and the level of cover. Additional features and optional extras can also be added to match the group’s requirements.
Are there flexible options for waiting and benefit periods with this group income protection?
Flexible options are available for both waiting and benefit periods. Waiting periods can include 14, 30, 60, or 90 days, while benefit periods may extend up to two years, five years, or to age 65. This flexibility allows organisations to select terms that best fit their members’ needs.
Are there optional extras available with WIP Income Protection (Group) by WIP Group?
Optional extras can be added to enhance the policy. These may include cover for ongoing superannuation contributions during disability, additional lump sum benefits for specific events, and extra protection for certain illnesses or injuries. These extras help organisations create a more comprehensive group insurance solution.
What is the process for brokers to access or offer this group income protection product?
Brokers must have a contract with WIP Group to access or offer WIP Income Protection (Group) by WIP Group. Once in place, brokers can work with WIP Group to tailor solutions for their clients. As this product falls under Commercial Insurance, brokers can also visit the Commercial Insurance category page to learn more about related solutions.
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