Income protection insurance can pay a regular benefit if illness or injury stops you working, subject to the policy’s definitions and exclusions. Benefits are often based on a portion of your pre-disability income and may be payable after a waiting period for an agreed benefit period. Costs and eligibility depend on factors such as your occupation, health, age, income and the insurer’s assessment, so outcomes aren’t guaranteed. Check the product disclosure statement and consider speaking with a licensed financial adviser about whether the cover suits your circumstances.