Income Protection
Almost all people insure their homes and cars, the idea of driving around in a new car without insurance to many people may seem crazy or the thought of not having home and contents insurance could cause many people to lose sleep at night, but that is what the majority of the population do every single day with their biggest financial asset…..you! Without the income you generate the chances are that you could not afford your new car or the house you live in or even afford the lifestyle that you are accustomed to, but many people do not even stop to think about insuring that very income which is the basis of their financial well being.
Insuring your income is the key to ensuring your continued lifestyle. What would happen to your quality of life if you could not work for a year due to an accident or sickness?
Income protection cover can replace up to 75% of your regular income, and superannuation contributions of up to 15%, if you cannot work due to illness or injury. Premiums are also generally tax-deductible, depending on your individual circumstances.
You can choose the waiting period, benefit payment period and how much of your income you will insure (subject to minimum and maximum amounts).