Income Protection Insurance
Without our income, life would be considerably different.
For most Australians a regular income is a necessity. So why do so many risk it?
What if your income stopped? Imagine you suffer a serious injury or illness that leaves you unable to work for 3, 6 or even 12 months. How will you pay your mortgage, rent or groceries?
Income protection insurance can ease the financial burden caused by illness or injury by paying 75% of your salary. The payments are made on a monthly basis with options available for the benefit and waiting periods.
The chosen waiting and benefit period of a policy will also have an effect on the premium. The less time you have to wait for your payout and the longer you choose to be covered for will increase the premium made. Alternatively the longer you choose to wait and the shorter the period that you are covered for, the cheaper your premium will be.
Income protection insurance policies can be created to suit any budget and are fully tax deductable.