Life can sometimes be unexpected—so it’s nice 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.
If an illness or injury meant that you were temporarily 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.
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 temporarily unable to work due to illness or injury. It may also include an option to continue paying your super contributions.
To be eligible for insurance cover, you must be a Plum member. 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 or income protection elsewhere, it may impact your ability to claim benefits under any SCI provided here.
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 won’t exceed the monthly benefit that you’re entitled to. For more information about what payments may reduce your SCI benefit, please refer to the Insurance Guide.
To apply for Plum Voluntary insurance, please complete the Insurance form by logging in to your account.
For more information, log in to your account to see your Insurance Guide to see if SCI is available for you.
Here are some questions our members have asked about Salary Continuance Insurance (SCI) cover:
The cost of your insurance will depend on your age, gender, occupation, medical history, health factors, income and employment arrangements.
Here’s a look at the current premium rates:
If your employer plan hasn’t included SCI in your arrangements with us and you’d like to apply for SCI, you can complete and submit the Insurance form located in the Forms and documents section when you log in to your 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 account.
The eligibility requirements that apply to you will depend on the arrangements your employer has with us.
SCI won’t be available to you if you’re:
See your Insurance Guide for any other exclusions.
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.
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.
If you pass away or you’re likely to pass away within 24 months due to a terminal illness—you’ll be able to financially assist your loved ones through a paid benefit.