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income protection insurance

Bills and expenses come regularly: But what if your income stopped?


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Affordable protection

What does PayBySuper deliver?

Why Naritas has selected PayBySuper as a preferred supplier of life & income protection insurance

$50 cashback offer


Affordable protection

Most people will borrow a lot of money to buy their dream home. Others without mortgages, similarly, find the cost of rent, vehicle repayments and credit cards to be significant. For many, if life were to take an unexpected turn and they were unable to work for any period of time, it would be very difficult to meet their repayments.

That’s why Naritas Finance has partnered with PayBySuper to make income protection and life insurance easy and affordable for people with loans.

What does PayBySuper deliver?

  • Get a quote in 30 seconds.
  • Compare prices across 10 insurers.
  • Apply online and over the phone, no personal advice.
  • Choice of fixed prices to age 65, or yearly stepped.
  • Pay the premiums out of your super account or SMSF.
  • Adviser-grade income protection and life insurance products.


Why Naritas has selected PayBySuper as a preferred supplier of life & income protection insurance

The founders of PayBySuper have spent over 8 years waiting for a change in superannuation laws which would allow people to get retail life insurance and pay the premiums out of their normal superannuation fund. Previously, the super funds could delay transferring money, which would ultimately mean the premiums weren’t paid and customers were left exposed.

The breakthrough legislation happened in January 2014 with the passing of the new SuperStream laws which forced super funds to pay rollovers and transfers within 3 working days. Since then, PayBySuper has been developing and refining their online quote and application system to make it easier for people to take out life insurance directly through superannuation, without having to refer to a financial adviser.

Both Naritas and PayBySuper want to help solve Australia’s underinsurance problem by making life insurance accessible and affordable for everyday people, by allowing them to lock in their premiums to age 65 and pay for them out of super:

  • Unlike the default insurance that people have in their super funds, the cover amount arranged by PayBySuper doesn’t change as you get older. The default cover amounts in super typically reduce significantly as people reach their 50’s.
  • Unlike the top-up cover available from people’s super funds which increase each year, the premium amounts with PayBySuper can be fixed to age 65. This means you can better afford to keep the insurance cover in place throughout your working life, without further eroding your retirement nest egg.
  • Unlike the group insurance available within your super fund which stops when you move jobs and super funds, the insurance offered through PayBySuper will move with you as you change jobs and super funds.



Annual Insurance Premium Cost, Yearly Stepped Vs Fixed to Age 65. Source:


PayBySuper doesn’t provide advice – instead you are automatically presented with a quotation for the amount of life insurance that other people in your age group and gender most commonly buy. You can then adjust the cover level to the amount you require.

Whilst the quote comparison gives customers the premium rates across up to 10 different life insurers, PayBySuper is currently only integrated with TAL Life.

This for 3 simple reasons:

  1. Apart from changes in government taxes etc., TAL is the only life company that guarantees its level premium rates to age 65 for death cover will not increase while the policy remains inforce (see the PDS for more details).
  2. TAL is one of only 2 companies that currently offers an online application process. Most other companies require an applicant to physically sign forms, which adds cost and hassle.
  3. TAL offers very competitive premium rates across most ages and cover amounts (with 15% tax rebates and a further 8.3% annual discounts available if premiums are paid by super).

$50 cashback offer

As a special offer to Naritas Finance subscribers, PayBySuper will give $50 cashback on any new policy taken out before 31 December 2015.


To be eligible for your cashback, all you need to do is enter the Naritas Finance Partner Code 2040 when you download your quote summary and apply for cover.