INCOME PROTECTION ENHANCEMENT OPTIONS

We are pleased to present two additional Income Protection products that will enhance your existing Income Protection coverage through Energy Queensland and WIP.

OPTION 1 - IP EXTEND

With this product, if you need to make a claim, you can receive income benefits for up to an additional 3 years at the end of your Energy Queensland Income Protection Policy, which has a 2 year Benefit Period.

Key Benefits:

  • Extended Benefit Period: Increase your coverage from 2 to 5 years.

  • Receive 85% of your weekly income for 3 years.

  • Up to $5,000 per week

  • Entire Premium is 100% tax deductible

OPTION 2 - IP BOOST - WAITING PERIOD COVER

Enhance your protection by receiving a benefit for up to 45 days, covering you during the waiting period of your Energy Queensland Income Protection Policy.

Key Benefits:

  • Receive a benefit during the 45 day waiting period.

  • Choose a 14, 21 or 28-day option to suit your needs

  • Up to $5,000 per week based on your weekly income.

  • Entire Premium is 100% tax deductible

PDS Policy Wording IP Extend & TMD IP Extend

PDS Policy Wording IP Boost & TMD IP Boost & Financial Services Guide & Important Information

Always read the Product Disclosure Statement and applicable documents, and seek financial advice if required, before purchasing these products. Please note these products are purchased by you the individual and are separate policies not linked to any other policy including employer provided coverage. Any Canopy purchased products must be disclosed in the event of a claim.

  • Canopy Insurance, a wholly owned subsidiary of the WIP Group (Energy Queensland’s income protection provider), uses the Group’s scale and expertise to offer enhanced retail cover. While WIP provides comprehensive Income Protection to all Energy Queensland employees, Canopy extends the same security and service to individuals.

  • Extending your income protection benefit period from 2 years to 5 years can provide extra peace of mind. If illness or injury keeps you off work for longer, you may be able to receive income payments for up to five years, helping reduce financial pressure while you focus on recovery.

  • Adding cover for the waiting period can help you access income support sooner if you’re unable to work, easing the immediate financial pressure. This can be especially helpful if you have limited savings or don’t want to rely on leave while you recover. You can choose a 14, 21, or 28-day waiting period top-up to complement the standard 45-day waiting period. Protection's 45 days Waiting Period, providing quicker access to income support during times of illness or injury.

  • Income protection premiums are generally tax-deductible in Australia. That means you may be able to claim your premiums as a tax deduction (depending on your circumstances). For personalised guidance, speak with your accountant or tax adviser.

  • WIP Group’s in-house claims team, n2n Claims Solutions, manages claims with a strong service focus. If you add these enhancement products, you’ll benefit from continuity with your existing income protection arrangement—everything is managed under one roof. That means any claims for the enhancements are handled by the same trusted team, delivering a consistent experience from start to finish.

  • WIP is unable to provide income protection coverage up to the age of 65 due to regulatory restrictions, as we are not classified as a life insurer. For additional coverage extending to 65 years of age, we suggest consulting with your financial advisor.

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