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What does Income Protection Cover?
Income protection covers you in the event of an injury or illness that prevents your from working, examples of some insured events are:
- Broken bones
- Unplanned surgeries
- Back injuries
Why you need Income Protection?
How would you manage your finances if you were suddenly unable to work due to an illness or injury? Sure, your sick leave, long service leave and savings may keep you going for a while, but what if you were unable to work for a year or more?
With an Income Protection Insurance policy you will recieve up to 75% of your salary should you need to make a claim. This monthly payment ensures that you're able to concentrate on getting better, knowing that your financial commitments are taken care of. You are able to select your waiting period and your benefit period to suit your individual needs.
Income Protection Insurance premiums are tax deductable, meaning that the cost of your cover is ever more affordable! I just makes sense to call us today to arrange your Income Protection Insurance.
Do you really need income protection?
If you earn an income, then you almost certainly do. What would happen to you and your family if you were suddenly unable to work for an extended period of time due to illness or injury?
Should you find yourself unable to work due to an accident or illness, your Income Protection Insurance policy will pay you a monthly benefit of up to 75% of you salary. This cover will continue for as long as you are unable to work, up to your defined benefit period, which can be from 2 years up to you turning 65 years old.
Your Income Protection Premiums is a tax deduction, which reduces the overall cost for this important cover.
What can Income Protection payments go towards?
Income replacement is exactly that, a replacement or your income and can be used as such. For example, you can use your income protection payment to go towards:
Just use it like you would your income and put it where its needed most.