nib award-winning life insurance

When it comes to life insurance you can bet that nib has you covered. Not convinced? Well what better proof than a 2020 Mozo Experts Choice Award win for Exceptional Value Income Protection.

“Our Exceptional Value Life Insurance categories for this year’s Mozo’s Experts Choice Awards are a reflection of insurers who are offering the best possible price for the level of cover they provide and nib’s Income Protection is a great example of that,” Mozo’s Banking Expert, Peter Marshall said.

“If you’re looking for an affordable option that still offers good cover, nib is a good place to start.” 

Mozo’s experts judges compared a range of different life insurance policies to reveal the products that has the most exceptional value for customers. The awards in the ‘Exceptional Value’ categories were based on policies that were the most affordable for the amount of cover they offered.

About nib

Established in Newcastle in 1952, nib is still one of Australia’s fastest growing health funds. The company really knows the ins and outs of the insurance game, as it provides medical and health insurance to 1.5 million customers across Australia and New Zealand, is the third largest travel insurer in Australia, and is now an award-winning income protection insurance provider. 

nib also offers insurance to more than 160,000 international workers and students who reside in Australia. 

nib’s award-winning income protection policy

This year, nib took out a Mozo Experts Choice awards for its exceptional value income protection. So you “don’t leave your lifestyle to chance”, nib has your back if you’re suddenly out of work as it’s Income Protection policy will pay a chunk of your usual income until you get back on your feet.  

Key features

Being without income can have detrimental effects on your way of life, especially if you have to make regular rent or mortgage payments, or have other people who depend on you financially. So here are some of the top features of nib’s great value income protection cover. 

• Receive up to 85% of your income: up to $10,000 a month for sickness or injury
• Get 30% off your premums: as long as you are in good health 
• Receive one months premiums free: if you pay annually, you pay for 11 months instead of 12 every year 
• Optional extras: get extra cover for Involuntary Unemployment (up to $3,000 a month for 3 months) and Permanent Disability 
• Shorter waiting periods: which refers to the period of time you are not working before you are eligible for payment, and can be as short as 14 days.    

Depending on your health, lifestyle and occupation, you may not be eligible for nib’s Income Protection but you could qualify for Basics Cover. With nib Basics Cover you can apply for up to 85% of your income, up to $7,500 a month. 

Who would it suit?

nib’s Income Protection could be a great option for any working Aussie over the age of 18 who wants a solid amount of cover on their income for an affordable price. If you are in good health or decide to pay your premiums annually you could receive a discount on your premium when you take out a policy with nib. 

Keep in mind, there are limitations for workers over 60 who take out nib Income Protection. Only workers under 60 are eligible to apply and after 65 cover is limited to $3,000 a month which then expires after you turn 75.   

How to take out life insurance with nib 

To get a quote for nib Income Protection, you can go online, or request a call. We’ve put together a list of all the information you’ll need to provide, step by step. 

1. Select whether you are a single or couple 

2. Enter your name 

3. Identify if you are Australian resident 

4. Select your gender 

5. Provide your date of birth 

6. Identify if you smoke or not 

7. Provide your gross annual income 

8. Select your occupation (At this stage if you don’t qualify for Income Protection, you’ll be given the option to apply for Basics Cover) 

9. Outline how much of your monthly income you want covered 

10. Identify what state you live in 

11. Provide your contact details and wait to be sent you quote 

Want to check out who else was a winner? Head over to our Mozo Experts Choice Awards page for a full list of award-winning life insurance providers.