Income protection insurance may pay part of your regular income if illness or injury prevents you from working, subject to the policy’s terms. Policies usually have a waiting period before payments begin and a maximum benefit period, with exclusions and eligibility rules that vary between insurers. Cover can be purchased directly or held through superannuation, but the features, costs and claim process may differ. Compare the Product Disclosure Statement and consider speaking with a licensed financial adviser or the insurer before deciding.