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Salary Continuance Insurance

Protecting your loved ones

Life can sometimes be unexpected—so it’s comforting to know that you’ve got a backup plan. Salary Continuance Insurance (also known as Income Protection) cover pays a benefit if you temporarily couldn’t work because of an illness or injury.

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What’s Salary Continuance Insurance (SCI) cover?

If an illness or injury meant that you were unable to work—SCI pays a benefit to provide you with ongoing income and financial support. It can give you peace of mind and let you focus on your health and recovery.

How does it work?

SCI provides a monthly benefit of up to 75% of your monthly income (up to a maximum monthly benefit) during the time that you’re unable to work due to illness or injury. It may also include an option to continue paying your super contributions.

Waiting period

This is the amount of time you must wait before your benefit payments start. Generally, 30-day, 60-day or 90-day waiting periods will apply.

Benefit payment period

This is how long the monthly benefit payments will last if you’re unable to work due to your illness or injury. Generally, benefit payments will be paid for a period of months or years, or up to a specific age (such as 65).

Please see your Insurance Guide to find out more about inclusions and exclusions

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A person holding a coffee cup.

Am I eligible for this?

To be eligible for insurance cover, you must be a Plum member as well as any arrangements that you may have with your employer. We also take into consideration factors such as your age and sometimes your gender.

It’s important to make sure that you don’t have multiple SCI policies (also called Income Protection) that you may not need or be able to claim on. If you have SCI cover elsewhere, it may impact your ability to claim benefits with us.

For more information, refer to your Insurance Guide to see if SCI is available for you.

What if I receive income from other sources during my claim?

Your SCI benefit may be reduced by benefits received or amounts that you’re expected to receive from other sources. This means that your total benefit can't exceed the monthly benefit that you’re entitled to. Watch our video to find out more about what payments may reduce your SCI benefit. It’s important to make sure that you don’t have multiple SCI policies that you may not need or be able to claim on. If you have SCI cover elsewhere, it may impact your ability to claim benefits with us.

For more information about what payments may reduce your SCI benefit, please refer to the Insurance Guide.

 

FAQs

Here are some questions our members have asked about Salary Continuance Insurance (SCI) cover:

    • If your employer does not have SCI arrangements with us, you cannot have SCI cover in your Plum Plan.
    • If your employer has voluntary SCI arrangements with us and you’d like to apply for voluntary SCI cover, you can complete and submit the Insurance Form by logging in to your online account.
  • The maximum monthly benefit payment of your pre-disability monthly income at the date of claim payable to you is subject to a maximum amount – see your Insurance Guide by logging into your online account.

  • The eligibility requirements that apply to you will depend on the arrangements your employer has with us.

    Generally, SCI won’t be available to you if you’re:

    • Not employed,
    • Employed for less than 15 hours a week,
    • Employed as a casual worker, or
    • Employed as a seasonal or contact worker.

    For more information, refer to your Insurance Guide to make sure you’re eligible for insurance cover and any other exclusions.

Louise's story

A smiling person.

Louise was 32, single and enjoying her career as an architect when she had a major car accident that left her hospitalised for 6 weeks and unable to work for 5 months.

Her insurance through her employer’s superannuation included SCI, which paid a benefit for up to two years (and had a 90 day waiting period). This meant Louise received fortnightly benefits of 75% of her income for the time she was off work (after her waiting period) – helping cover her essential living costs during this time.

With the protection of a regular SCI benefit, Louise could maintain her financial independence.

Protecting your loved ones

Total and Permanent Disablement

Sometimes the unexpected happens. If you were to become totally and permanently disabled, Total and Permanent Disablement (TPD) cover can help ease financial pressures by paying you a benefit payment.

Death cover

If you die or diagnosed as likely to die within 24 months due to a terminal illness—you’ll be able to financially assist your loved ones through a paid benefit.