Personal Accident Insurance

If you get injured, personal accident insurance can help to ease your financial stress. But there are more comprehensive plans, such as income protection insurance, that'll also cover you if you get sick.

Standalone personal accident insurance Cover for a range of injuries
Compare income protection insurance policies Comprehensive cover for sickness and injuries

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What you need to know

  • Personal accident is designed to pay you if you are injured and unable to work.
  • There are a few different types of personal accident insurance. Most income protection policies offer this cover as an add-on, but HCF offers it as standalone cover.
  • It has similarities to income protection insurance but it only covers you for accidental injuries – not if you get sick or injured.

What is personal accident insurance?

Personal accident insurance, sometimes called personal injury insurance, is an insurance policy that pays you a financial benefit if you're injured in an accident.

It's designed to ease some of the financial stress that can occur after a serious accident – for example, because you're temporarily unable to work or face expensive medical bills.

How does personal accident insurance work?

You pay a monthly fee and, in exchange, your insurance company promises to pay a financial benefit if you ever suffer a serious injury.

If you buy standalone personal accident insurance, you'll likely get the financial benefit as a lump-sum payment upon injury. For example, you may receive $3,000 if you break your arm.

However, if you buy personal accident insurance as part of a wider income protection policy, you'll receive a monthly payment that is designed to replace a portion of your typical income while you're unable to work. Learn about the differences between personal accident cover and income protection.

When you buy your policy, you also set a waiting period and a benefit period.


Waiting period

This is how long you have to wait after your injury before you can begin claiming. For example, you might set a waiting period as short as seven days or as long as two months.

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Benefit period

This is the length of time you can claim the benefit for. Usually, the maximum length you can claim monthly benefits is either two years or five years, depending on the insurer.

What does personal accident insurance cover?

Standalone personal accident insurance typically covers a specific list of injuries, including the following:

  • Fractures
  • Dislocations
  • Loss of limbs
  • Burns
  • Some illness
  • Loss of sight

If you buy personal accident insurance as part of a wider income protection package, you may also be covered for illnesses that put you out of work, such as the following:

  • Cancer
  • Paralysis
  • Stroke
  • Demensia
  • Heart attack

Remember, specific benefits will vary between insurers, so be sure to read the product disclosure statement (PDS) carefully before buying personal accident insurance.

Personal accident insurance standalone policy

BrandBenefit AmountBenefit PeriodWaiting PeriodAgePrice
HCF Life Insurance Logo

Life Insurance

Personal Accident Insurance

$25,000 or $50,000Differs based on level of coverNone55–74$6.30 per weekMore info

Price is based on a 55 year old individual with $50,000 coverage.

Compare income protection insurance - Cover for sickness and injuries

1 - 4 of 9
Name Product Maximum Monthly Benefit Maximum % of Income Covered Maximum Benefit Period Average Claims Acceptance Rate Sum Insured
TAL Accelerated Protection Income Protection
Up to 70%
Up to
Age 65
Data not available
$1,305 million
Get up to 70% of your income covered with flexible short and long term benefit periods.
AAMI Income Protection
Up to 75%
Up to
5 years
Data not available
$222 million
Take out a new AAMI Income Protection policy before 30 June 2023 and get a $100 eGift card after your first 4 months of cover. T&Cs apply.

If you’re an existing AAMI customer, you can save 5% on income protection. New customers can get one month free by paying annually.
NobleOak Disability Income Insurance
Up to 70%
Up to
Age 65
$65 million
With NobleOak, you can lock in a policy with a benefit period covering you up to the age of 65. Cover limits may go as high as $30,000.
Suncorp Income Protection
Up to 75%
Up to
5 years
Data not available
$222 million
Take out a new Suncorp Income Protection policy before 30 June 2023 and get a $100 eGift card after your first 4 months of cover. T&Cs apply.

5% off your premium with a multi-policy discount if you’re an existing Suncorp Insurance customer.

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Types of personal accident insurance

There are several types of personal accident insurance. You can buy cover as a standalone product or as part of a larger income protection package. If you buy personal injury insurance as part of a wider policy, you may also receive a financial benefit for illness rather than just for injury.

The table below shows the four types of personal accident insurance, what's typically covered under each policy and the type of payment you'd receive if you ever had to claim.

Type of coverWhat's covered?Payout type
Standalone personal accident insuranceSpecific injuries due to accidents – e.g. fractures, burns and dislocations.Lump sum
TPD insuranceInjuries and illnesses that leave you totally and permanently disabled.Lump sum
Accident-only income protectionInjuries that put you out of work temporarily.Monthly income replacement
Income protectionInjuries and illnesses that put you out of work temporarily.Monthly income replacement

Personal accident insurance vs income protection

Personal accident insurance usually (though not always) pays you a lump sum if you're ever seriously injured. You might break your arm and be able to return to work the next day, but you'd still get your benefit.

Income protection insurance pays you a monthly benefit if you're ever too sick or injured to work. For example, if you were diagnosed with cancer and had to take three months off, you'd be able to claim a portion of your typical income as your benefit.

Personal accident

Personal Accident
  • Only covers accidental injuries
  • Usually comes with a maximum benefit period of 5 years
  • Can be cancelled by your insurer

Income protection

Income Protection
  • Covers you for most injuries and illnesses
  • Can pay you until you turn 65
  • Can't be cancelled and will typically continue to renew so long as you keep paying

Personal accident insurance vs income protection.

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What affects the cost of personal accident insurance?

If you buy standalone personal accident insurance, you'll typically pay a set price depending on your age. For example, you may pay $20 per month up until the age of 65. After that, your premiums may increase at a steady rate for every subsequent year.

However, if you buy an income protection policy that includes cover for illness as well as injury, your premiums will be calculated taking a range of different factors into consideration, including the following:

  • Your age
  • Your overall health
  • Waiting periods
  • Your income
  • Benefit amount

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18 Responses

    Default Gravatar
    ClaudiaMay 10, 2023

    Can I get personal accident insurance for 1 day to cover using a Segway

      Avatarfinder Customer Care
      JamesMay 10, 2023Staff

      Hi Claudia,

      Thanks for your inquiry.

      It’s a good idea to speak with an insurer directly to see if they’ll offer you cover when using a Segway.

      Flip Insurance may be one option to consider – I know they offer on-demand accident cover that includes single-day protection. You can read more about Flip Insurance here.

      That’s just one option. It’s a good idea to compare a number of providers and always read the PDS before you settle on the right insurance for your needs.

      I hope that helps.



    Default Gravatar
    KimSeptember 17, 2021

    My 15-year-old son is going to be on worksites with his dad and also needs to be covered by personal accident insurance. Can we get coverage for him or does my husband’s policy cover our son too because of his age?

      Avatarfinder Customer Care
      JamesSeptember 22, 2021Staff

      Hi Kim,

      A good starting point may be to ask your husband to get in touch with his insurance provider to confirm whether or not children are covered by the terms of his policy. If not, you may need to look for specialist cover.


    Default Gravatar
    BobbyMarch 16, 2019

    Hi, I’m looking at getting some work experience at a local mechanic workshop. As I am only 15 years old, can I get insurance for personal accident and liability insurance? I have been told that I am not covered under their insurance.

      Avatarfinder Customer Care
      MaiMarch 17, 2019Staff

      Hi Bobby,

      Thank you for contacting Finder.

      I’m afraid you may not be eligible for getting personal accident insurance. According to our review, the age of entry limitations is from 16-18 years old depending on the type of personal accident insurance.

      For liability insurance, you can try getting a quote online or request a callback from a broker.

      Hope this helps! 😊

      Let us know if you need further assistance and we’ll be happy to help.

      Kind Regards,

    Default Gravatar
    WendyFebruary 28, 2019

    I am looking for insurance cover, accident only and no income protection. For a social walking group in case someone gets hurt in our activity time. Not looking for big premiums and looking for cover for about 50 people.

      Avatarfinder Customer Care
      JeniMarch 2, 2019Staff

      Hi Wendy,

      Thank you for getting in touch with Finder.

      On this page you’re looking at, kindly enter all details asked and a broker will get in touch to help you find the accident only insurance that suits your needs.

      I hope this helps.

      Thank you and have a wonderful day!


    Default Gravatar
    violaFebruary 12, 2019

    His is 7 days excess fee applicable to all injuries that are suffered by contractors irrespective of cause, and the sports injuries clause 28 days excess fee? is this under PA policy nation wide?

      Avatarfinder Customer Care
      JohnFebruary 13, 2019Staff

      Hi Viola,

      Thank you for reaching out to finder.

      The Insurance Council of Australia regulates and provides guidelines to insurance companies on acceptable policy coverage for it’s users. You may want to reach out to them if you feel that there is more to what your provider is covering for you. As well, it would also be advisable to revisit your contract with your insurance provider to check on this clause coverage as well as what policies it provides. Hope this helps!


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