How is my premium calculated for this income protection insurance?

There are a few different factors Roobyx takes into account to set the premium, such as:

  • Your Airtasker earnings
  • Age
  • Whether you want While You Work Cover or 24/7 Cover
  • The benefit structure chosen
  • Location (affecting the Stamp Duty payable)

Premiums are deducted from your credit card weekly, and the premium charged depends on your earnings from that previous week. 

The amount you get from a claim is calculated out by averaging out your earnings over the 10 weeks before the date of the injury which resulted in you being unable to work on Airtasker.

If you’ve been working for less than 10 weeks, your earnings are calculated out as an average of the total time since you started.

You’ll start to get payments after the waiting period. These will continue until you’re able to start working again or the benefit period runs out, whichever happens first.

Content above has been provided by Roobyx, a trading name of YourCover Pty Ltd (Australian Financial Services Licence AFSL 461299)

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