Income Protection: New Job, New Income

Some income protection policies include a guaranteed future insurability or benefit indexation feature, which may allow you to increase your cover without full medical underwriting particularly if your income increases. However, this typically depends on the terms of your policy, how recently the cover was set up, and whether you meet specific criteria, such as remaining in the same occupation or industry.

It’s important to note that conditions, limits, and time frames usually apply. Some policies may only allow adjust- ments on policy anniversaries or require financial evidence of your new income level. If you’re thinking about changing jobs or have already done so, you should speak to your financial adviser to understand the options you may have.