Axa is the first domestic insurer to offer income protection cover to temporary residents working in Australia under a 457 visa.

Axa Head of Individual Life Insurance Stephen Rosengren says there are now more than 83,000 people working on these visas and the annual intake is increasing.

“Until now there was no standard offer available to this category of migrant so each insurance application had to be considered on a case-by-case basis,” he said.

The 457 visa is the most common program used by employers to sponsor skilled overseas employees and allows them to work in Australia for up to four years.

The new coverage is part of Axa’s annual review of its financial protection arm and also includes improvements to insurance cover for men with prostate cancer.