Life in Mackay offers an incredible lifestyle—from our coastal culture to thriving industries like mining, construction, agriculture and healthcare. But while many locals enjoy strong incomes, few are truly prepared for how quickly that income can disappear if illness or injury strikes.
That’s where income protection insurance steps in. It’s one of the most powerful financial safeguards available, yet often overlooked.
In this blog, we break down why income protection matters now more than ever, especially for Mackay professionals, families, and self‑employed workers.
Why Income Protection Insurance Is More Important Than Ever
1. Cost‑of‑living pressures are rising across Australia
Recent Australian industry analysis shows record numbers of income protection policies being purchased, driven largely by ongoing cost‑of‑living stress and economic uncertainty. Many households simply cannot survive extended periods without income.
2. More Australians are taking out cover—over 1.2 million and growing
APRA’s 2025 data shows more than 1.2 million Australians now hold active income protection policies, reflecting a steady rise in awareness and need.
3. Chronic illness and injury rates are increasing
Australia is seeing elevated rates of chronic illness, making workplace absence more common and often long‑term. Income protection becomes a critical buffer when sick leave runs out.
4. Gig economy and self‑employment continue to grow
Many Mackay residents work in contracting, trades, or mining shift‑based roles. As Australia’s gig economy expands, more workers lack employer‑funded sick pay, increasing the importance of personal income protection.
5. Claims have doubled over the past decade
An industry white paper highlights that income protection claims have doubled over 10 years, driven by mental health claims, economic shifts, and workforce stress.
This means more people are relying on their policies—and receiving the benefits.
What Income Protection Actually Covers
Income protection provides a monthly payment if you’re unable to work due to illness or injury, typically covering up to 70–75% of your income.
Key components include:
Benefit period: 2 years, 5 years, or to age 65
Waiting period: 14, 30, or 90 days
Premium structure: Stepped vs. level
Policy definitions: Updated 2025 standards have tightened the meaning of “unable to work” for greater clarity and transparency.
Real‑World Example: Why It Matters
Industry reports highlight cases like a 42‑year‑old Brisbane physiotherapist who received 75% of her salary for 18 months after a sudden cancer diagnosis—keeping her mortgage paid and her family financially stable.
This is the power of income protection: it stops a health crisis from becoming a financial crisis.
The Mackay Perspective: Why Local Workers Need Protection
Mackay residents often work in higher‑risk or physically demanding occupations including:
Mining operators
Tradespeople
Construction workers
Transport operators
Healthcare workers
These industries see higher injury rates, and many rely on consistent income to support mortgages, household expenses, and family commitments.
Gardian Financial Planning, based here in Mackay, specialises in tailoring
life and income protection solutions to protect local families and workers.
[gardian.com.au]
How Rising Insurance Trends Affect You
Across Australia:
Income protection sales reached record highs last year.
Premiums are rising due to inflation and regulatory changes.
Benefit periods are shortening, making professional advice more important than ever.
These trends mean the earlier you secure cover, the better your long-term value and protection.
Is Income Protection Insurance Worth It?
For many Australians, yes—especially if you:
Premiums vary, but typical costs might be:
When compared to months—or years—of lost income, it’s a small investment for substantial security.
Why Choose Gardian Financial Planning (Mackay)?
Gardian Financial Planning provides:
We understand the unique needs of Mackay workers and families, ensuring your cover is suited to your risk, occupation, and goals.
Ready to Protect Your Income?
Life is unpredictable—but your financial security doesn’t have to be.
Contact Gardian Financial Planning in Mackay for personalised, trustworthy advice on income protection insurance.
👉 Secure your future. Protect what matters most.
