We can help you with:
- Applying to increase or reduce your level of cover
- Adding or removing a partner or anyone you choose to take out a policy with
- Adding or changing beneficiaries
- Changing your payment frequency
Virgin Income Protection is available to Australian Residents between 18-60 years of age. Applications subject to acceptance. Cover limits, exclusions and conditions apply. Premiums vary depending on personal circumstances and generally increase with age and cover. Please read the Product Disclosure Statement for further information.
This information is of a general nature only and does not take into account your personal financial situation, needs or objectives. For this reason, you should consider the appropriateness of this information, having regard to your personal financial situation, needs and objectives as well as the Product Disclosure Statement and Financial Services Guide before deciding whether to buy or continuing to hold this product. View Privacy & Security information.
Virgin Income Protection and Life Insurance are promoted by Virgin Money (Australia) Pty Limited ABN 75 103 478 897, authorised representative No 280884 of Virgin Money Financial Services Pty Ltd ABN 51 113 285 395 AFSL 286869, and distributed by TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260. Policies and claims administered under agreement with the insurers, TAL Life Limited ABN 70 050 109 450 AFSL 237848 and for Involuntary Unemployment Cover, St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649.
Up to $10,000 per month, up to 85% of pre-tax income available with our Tailored Cover option.
$1 per day could provide $3,000 sickness & injury cover per month, for a 35 year old white collar non-smoker male with a 6 month Benefit Period & 28-day Waiting Period, under Tailored option. For example, $5 a week could provide Sickness & Injury Tailored Cover of $1,500 a month for up to 2 years for a 35 year old male non-smoker, employed in a sedentary white collar occupation, after a 28-day waiting period. Premiums vary depending on personal circumstances and increase with age and level of cover.
On the spot cover for eligible Australian Residents aged 18-60 with our Quick & Easy option. Exclusions apply including pre-existing medical conditions, suicide, and dangerous activities. See the Product Disclosure Statement for more information
In order for Bonus Cover to be payable, a Bonus Cover Event must occur. These are specified illnesses and injuries, set out and defined in the PDS. If a Life Insured’s Sickness or Injury qualifies for Bonus Cover, the Benefit will accrue from the start of the Waiting Period and will be payable after 28 days (provided the Life Insured is continuously Out of Action for this time). Refer to the PDS for details.
Virgin Income Protection's Tailored cover option won the CANSTAR award for Outstanding Value in Direct Income Protection in 2015, 2017, 2018 and 2019. CANSTAR reviewed the combination of product features and price against competitors. Find out more at https://www.canstar.com.au/star-rating-reports/direct-income-protection/
Offer of 25,000 Velocity Points is available to eligible customers who purchase a new Virgin Life Insurance or Virgin Income Protection Insurance policy and have not previously received points for that same policy number. This offer is valid for new policy purchases from 13 May – 1 July 2019 and is subject to change or removal at the discretion of Virgin Money. A valid Velocity membership number must be provided at the time of application in order to receive the Velocity Points. If you're not a Velocity member you can join Velocity for free A maximum of 25,000 Velocity Points per policy applies (including where multiple people are insured under a single policy). In order to receive the Points, your minimum monthly premium must not be less than $80 per month per policy, the qualifying premium must remain the same or be of greater value than $80 per month per policy, all premiums must be paid and up to date during the qualifying period (the qualifying period is 6 months following the commencement date of the policy) and the policyholder's name must match the Velocity name and account number provided. If the policy is issued in more than one name, then only one person may be nominated for receiving the Velocity Points. Points will be credited to the eligible Velocity account up to 30 days after the qualifying period in a single lump sum provided all premiums are paid and up to date during that period. This offer cannot be used in conjunction with any other Virgin Money Life Insurance or Virgin Money Income Protection offers, is not redeemable for cash and is not transferrable. The Velocity Membership Terms and Conditions apply.
The quoted redemption fares are correct as at 17 December 2018 and are subject to change. Fares are subject to availability, and seats are limited and may not be available at peak times or on all flights. Price is based on a one way or return economy Reward Seat fare or business Reward Seat fare as specified, and must be booked on the Velocity website. Taxes, fees and carrier charges are payable in addition to Velocity Points redeemed and are not eligible for Points earn. Price may vary until ticketed. All payments made on the internet or on the phone via debit/credit card are subject to a payment surcharge between 0.6% to 1.3% of the total value of the card transaction (capped at $70 per passenger per booking). For Rewards Seat bookings on: (i) Virgin Australia operated flights; (ii) Delta Air Lines operated and marketed flights between Sydney and Los Angeles; or, (iii) Etihad Airways operated flights, a carrier charge will apply, view more information here. Add $40 or 5,200 Points for international short haul bookings or $70 or 8,800 Points for international long haul booking per person for bookings made on the phone. A checked baggage allowance is included in your fare, view Reward Seat Baggage Allowances for details. Name changes are not permitted. Other changes, refunds and cancellation are permitted prior to travel and may incur a fee and any applicable fare difference. You may also be entitled to a refund under the Australian Consumer Law in certain circumstances. View the Velocity Rewards Seat fare rules for more information. Some flights may be operated by a partner airline. Different baggage allowances and conditions may apply to these flights. Full terms and conditions at velocityfrequentflyer.com.
For more info on claiming your Income Protection premiums visit https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Other-deductions/Income-protection-insurance