Income protection Australia insurers consider a lot of factors in computing for claims and monthly premiums. Policy holders have all the right to know about each and every one of these factors.

The first factor is made up of age and gender. Older people have to pay more expensive premiums compared to younger ones as they are more prone to falling into sickness and incurring injury. Younger people’s bodies are relatively stronger and have lesser chances of contacting diseases, falling into sickness and incurring injury. In terms of gender, women surprisingly pay more compared to men due to the fact that they claim patterns show more claims in women compared to men.

Another factor that affects income protection insurance is the policy holder’s occupation or field of work. The more risky your job is the more chance you’ll end up paying more for your premium. Employees of low risk jobs like those limited in the office pay lesser premiums to skilled and manual labor workers who are at high risk for sickness and injury.

There are other factors that affect income protection insurance and it is a good idea to compare income protection insurances to get the best one .