The latest with our Income Insurance Cover.

Apr 10, 2022Advisers, Life, News0 comments

At Integrity, we deeply believe in the importance of co-creating with our Partners, because we believe life insurance is a product for life. That’s why we’ve designed our products with real life in mind. It’s also about making it comparable, easy to understand, sustainable for the long term and (most importantly) supports clients (and their loved ones) when they need it most.

In October 2021, we launched our updated Income Insurance product. We’ve received some incredibly useful feedback from Adviser roundtables and engagement activities with Partners on how it could be enhanced. As a result, we’re excited to announce some important improvements we’ve made in response to what you told us.

Improvements happening from 11 April 2022


What do you get?

Total Disability Top Up

Is now available when a 70% Income Replacement Ratio (IRR) is chosen.

This means your client could receive up to 90% benefit for the first six months of claim (a 70% IRR plus an approximate 20% Total Disability Top Up). 

Passive Income

We’ve removed Passive Income from the list of payments that would reduce a client’s monthly benefit.

And if payments are received from other disability insurance policies, credit or mortgage insurance, those payments will only reduce the monthly benefit if the cumulative total of those payments and the monthly benefits exceed the maximum Cover Amount.

5-year Payment Period

We’ll now maintain a 70% IRR and use your client’s own occupation to assess the claim for the full Payment Period, where a 5-year Payment Period is selected.

CPI Rate Increase

Can now be chosen with Income Insurance.

This allows your clients’ Cover to reflect their income increasing as a result of CPI – it’s important to ensure client’s aren’t over-insured as a result.

Waiting Period 

We’ve updated the terms of our Waiting Period so if a client works during the Waiting Period, those days will no longer extend the Waiting Period. Further, if your client has a 30, 60 or 90-day Waiting Period and remains at least Partially Disabled, the Waiting Period will not restart if they return to work during the Waiting Period.

Blue Collar Occupation Class

Clients who are aged 18-55 and in a Blue Collar Occupation class can now select a To Age 65 Payment Period.

A refresh of our Income Insurance Cover

In addition to the above features, our Income Insurance Cover provides choice and flexibility for you to tailor the product to your clients’ needs. Here’s some of the key features:

  • Customise policies across the Income Replacement Ratio (IRR), Waiting Period and Payment Period.
  • One Pre-Disability Income definition for all eligible occupations and expiry ages.

We’ve also taken a stand on archaic fees

Life insurance should be affordable and accessible – which is critically important to most everyday Australians. So, with us, you’ll experience:

  • No loading for monthly insurance premiums;
  • A 2-year base premium rate guarantee;
  • No cross-subsidise of our products; and
  • No policy fees.

A hybrid Retail Distribution model to support you

Our recently launched hybrid Retail Distribution model is designed to provide greater efficiency and support for our growing number of Partners across the country. It ensures a coordinated and nationally consistent approach across the team and all associated activities. By introducing this new distribution model, we’ll have greater flexibility on how we interact and operate with Partners – a reflection of the changing environment in which everyone now lives and works.

What happens now?

These improved Income Insurance features are available for new quotes from 11 April 2022. For more information, check out our Supplementary PDS or get in touch with your Integrity Life Business Development rep at  

Integrity Life

Integrity Life

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