Trade Personal Accident Insurance

Personal Accident Insurance typically provides a weekly income benefit if you are accidentally injured and unable to work. Some policies may also include optional illness cover and Capital Benefits for permanent disablement or accidental death, subject to the policy wording and insurer acceptance.

Illness is not always included automatically. Many policies focus on accidental injury, while illness cover may be available as an optional extra. If illness cover is important for your work situation, the policy schedule should be checked before cover is placed.

The weekly benefit amount is selected during the application and may need to be supported by income evidence. Some policies may offer weekly benefit options from lower amounts through to higher benefit levels, subject to policy limits and insurer acceptance.

Payments may continue for the selected benefit period while you remain unable to work and continue to meet the policy definition of disablement. Some policies may offer benefit periods up to two years, depending on the insured person, policy and selected options.

Yes. A waiting period usually applies before benefits can begin. A 14-day waiting period is common for injury claims, while illness claims may require a longer waiting period, such as 30 days, depending on the policy wording.

Many standard Personal Accident Insurance policies do not require a medical examination at application. However, insurers may request more information depending on your age, occupation, selected benefits, claims history or disclosed medical details.

Insurers generally require the insured person to be actively working and earning income when cover starts. If you are currently on a workers compensation claim or unable to work, insurer acceptance may be limited or unavailable.

No. Personal Accident Insurance is a general insurance product commonly used by contractors and tradies. Income Protection Insurance is usually issued through life insurance channels and may involve more detailed medical and financial underwriting.

Personal Accident Insurance is commonly requested by some builders, principals, mining operators or site managers before subcontractors can start work. Requirements depend on the contract, project and site access rules.

Yes. Subcontractors commonly take out Personal Accident Insurance, especially when working under their own ABN and without employer-paid sick leave. A principal contractor may also request proof of cover before site access is granted.

No. Personal Accident Insurance does not replace Workers Compensation Insurance obligations where a business employs workers. Workers compensation rules vary by state and territory. All Trades Cover can only offer Workers Compensation Insurance in WA due to licensing restrictions.

Personal Accident Insurance usually provides income support rather than medical treatment cover. It is not a replacement for private health insurance, hospital cover, Medicare or workers compensation medical benefits where those apply.

A heart attack is generally treated as an illness rather than an accidental injury. It may only be considered if optional illness cover is included and the condition is not excluded as a pre-existing condition. The policy wording and insurer assessment will determine whether cover may respond.

Some policies may provide 24/7 worldwide cover for Australian residents. Overseas cover remains subject to policy terms, travel conditions, exclusions and insurer acceptance.

Premiums used to protect assessable income may be deductible in some circumstances. Tax treatment depends on your situation, policy structure and current tax rules. You should confirm tax deductibility with a registered tax adviser or accountant.

You will usually need to provide your trade, business structure, ABN, income, preferred weekly benefit, waiting period, benefit period, claims history and whether you want accidental injury cover only or optional illness cover where available.

A Certificate of Currency can often be issued once cover is accepted, payment or cover instructions are finalised and the insurer has issued the policy documents. Same-day documents may be available depending on the insurer and information required.

Yes. All Trades Cover can help review the insurance requirements in your contract and explain what benefit amounts, waiting periods, benefit periods or Certificate of Currency wording may be requested. Not every requirement can be met, and cover remains subject to insurer acceptance.