![]() Information provided is general advice only and has been prepared without taking into account any person's particular objectives, financial situation or needs. Registered Office, Level 23, 80 Ann Street, Brisbane QLD 4000. AAMI Business Insurance is issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as AAMI Business Insurance. ![]() This policy provides information about how AAMI collects and uses data related to your online activity, and how you can choose to remain anonymous.ĪAMI Home Building and Home Contents Insurance, Landlord Insurance, Strata Insurance, Car Insurance, Motorcycle Insurance, NSW and SA CTP Insurance, ACT MAI Insurance, Caravan Insurance and Travel Insurance are issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI. We use cookies and other related technologies to improve and tailor your website experience. For the purposes of this table it is assumed that the taxpayer has only a single deduction (the annual premium for AAMI Income Protection cover) allowing the deduction to be applied at the highest marginal tax rate applicable to the taxpayer. **The value of this tax deduction noted above will depend on a taxpayer’s individual circumstances. Temporary Budget Repair Levy payable at a rate of 2% for taxable income over $180,000. The above marginal tax rates do not include the: The examples used here are based on a payment of AAMI Income Protection premiums of $1,000 per year: That means at tax time you may be able to claim your premium as a deduction and potentially save money.ĭepending on your earnings and tax bracket, the table below can be used as a guide to see what you could potentially save. Most of the time, income protection premiums are tax deductible if you’re working (depending on a few individual circumstances). Therefore, if your employer mandates that you are required to be vaccinated for COVID-19 and you are restricted from working as a result of choosing not to be vaccinated, you will not be entitled to make a claim against your policy for being unable to work if you are not suffering an illness or injury that is preventing you from working in your usual occupation or performing your usual daily activities. This includes doctors, nurses, health professionals, police and people working in quarantine hotels and services.ĪAMI Income Protection Insurance: AAMI Income Protection policies provide a benefit if you suffer an illness or injury and you are unable to work, in line with policy terms and conditions. If you were to experience sickness or injury after receiving the COVID-19 vaccination, a claim can still be lodged for a benefit under your policy and your claim will be assessed and is subject to the terms and conditions of your policy. AAMI Life policies do not include exclusions or limitations related to COVID-19 including vaccine related side-effects. Receiving a COVID-19 vaccination approved for use by the Therapeutic Goods Administration (TGA) in Australia will not affect the cover under your existing insurance policy.
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