FAQ’s

Income protection helps replace part of your income if injury or illness prevents you from working. It provides financial support while you recover, so you can focus on getting better.

With Canopy, you can protect up to 100% of your nominated income for the first 6 weeks, followed by 75% or 85% ongoing for up to 2 years, depending on the option you choose. You also select waiting and benefit periods that suit your needs and budget.

There are no medical examinations required to apply. Instead, we ask you to complete health questions as part of the application process, which helps assess your cover.

24/7 worldwide cover means your income protection applies at any time, anywhere in the world — whether you’re working, travelling, or going about everyday life.

You’re covered 24 hours a day, 7 days a week, regardless of where an injury or illness occurs, provided you meet the policy terms and definitions.

A waiting period is the length of time you must wait after you’re unable to work due to injury or illness before benefit payments start on an approved claim.

With Canopy, you can choose a waiting period of 14, 28, 60 or 90 days. Shorter waiting periods mean payments can start sooner, while longer waiting periods generally reduce the cost of cover.

Your income is generally based on your average weekly pre-tax earnings over the 12 months before you became disabled, or over a shorter period if you’ve been in your role for less than 12 months.

How income is assessed depends on how you work:

• If you’re employed, income includes your regular wages or salary, as well as overtime or allowances that form part of your normal pay. It does not include bonuses, commissions, or reimbursement allowances (such as travel, meals, accommodation or tools). Income is assessed before any salary sacrifice arrangements.

• If you’re self-employed, income is based on your business earnings after business expenses, reflecting what you actually earn from your work.

Most working Australians who meet the eligibility criteria in the PDS can apply, including:

• Employees

• Self-employed people

• Contractors

Eligibility can vary based on factors such as age, occupation and health history.

A pre-existing injury or illness is generally a condition that, before you applied for cover, you:

• Were aware of

• Had symptoms of

• Received medical advice, treatment or investigation for

Pre-existing conditions may not be covered for a set period after your policy starts, depending on the policy terms. This doesn’t mean you can’t apply — it simply means some conditions may have exclusions or waiting periods.

Yes. You can update your cover if your income, work status or personal circumstances change

Your cover can usually continue if you change jobs, provided you still meet the eligibility criteria and keep your policy active. If your work situation changes significantly, it’s best to contact us to ensure your cover remains appropriate.

In many cases, income protection premiums are tax-deductible. Tax treatment can vary depending on your individual circumstances, so we recommend seeking advice from a tax professional.

Yes. You can cancel your cover at any time via your online account or by contacting our team. If you cancel your policy, you won’t be covered for events that occur after that change.

We will deduct all other income you receive during the same benefit period so it is important that you declare all other income you receive whilst on claim with us.

If you suffer a work-related injury and are entitled to Workers’ Compensation, your Canopy income protection can top up your income if Workers’ Compensation payments are lower than your nominated weekly income.

In simple terms, Workers’ Compensation may pay you part of your income. If that amount is less than the weekly income you’ve insured under your Canopy policy, we can pay the difference, up to your nominated weekly benefit, subject to the policy terms.