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Financial Goals
Income Protection
Income Protection
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How to Preserve Your Goals, Dreams and Hopes for Yourself, Family and Loved Ones
Income Protection - If you are unable to work through injury or sickness this policy provides a monthly amount to help cover cost until you are well enough to return to work.
Income Protection - If you are unable to work through injury or sickness this policy provides a monthly amount to help cover cost until you are well enough to return to work.
You insure your car and tools, why not protect your ability
to earn an income?
Income protection insurance (also known as salary continuance insurance) pays a monthly
benefit of up to 75% of your pre-tax salary if you are unable to work due to illness or injury.
Income protection may pay benefits for temporary conditions that affect you for weeks or
months as well as for long term illness.
Income protection benefits begin after a pre-determined waiting period that you nominate when you take out the cover. Generally, the longer the waiting period the lower the premium. The policy will continue to pay the benefit for as long as you remain unable to work - up to a maximum predetermined period. This can be a set time frame such as two years or be age based, for example up to age 65. Generally, the longer the potential benefit period the higher the premium.
Income protection premiums are generally tax deductible as an expense incurred in earning your income if you own the policy outside of your super fund.
Income protection benefits begin after a pre-determined waiting period that you nominate when you take out the cover. Generally, the longer the waiting period the lower the premium. The policy will continue to pay the benefit for as long as you remain unable to work - up to a maximum predetermined period. This can be a set time frame such as two years or be age based, for example up to age 65. Generally, the longer the potential benefit period the higher the premium.
Income protection premiums are generally tax deductible as an expense incurred in earning your income if you own the policy outside of your super fund.