Income protection insurance - yay or nay?

I don't have income protection insurance.

Last time (over 10 yrs ago) I tried to get income protection I got told my job (freight train driver) is too high risk to insure. Maybe that's changed.

If you have income protection in Australia particularly which org did you choose to get it through and what hoops/hurdles if any were there?

Has anyone ever actually had to use theirs and what hoops/hurdles were involved to make any claims through the policy?

Now I have a mortgage I'm considering whether it's worthwhile.

Do you feel your life and/or income protection insurance is worthwhile and you feel the cost is fair?

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whowasthatmaskedman · 70-79, M

Life insurance is a basic need to protect your family from the loss of YOU. Your mortgage, other loans, the kids education and cash to get your spouse and kids from devastated emotionally to a stable future. If you are employed and have Super, they will issue you cheap term life cover through your superannuation. And unless its shifted in the last few years, the premiums are deducted BEFORE tax. So its about the best deal you will get..
Income protection on the other hand in my view only works for self employed people, like tradesmen, who arent covered by sick leave or workers compensation. Most of the other situations where you might claim have a ton of hoops to go through. Personally I wouldnt..😷