Income Protection Insurance
Income protection is specially designed to pay or provide you with a steady stream of income every month in case you become ill or injured and can no longer work. Income Protection generally pays a benefit up to 75% of your gross monthly income and can also include super contributions on top of the 75% sustained injury, bringing the total
Income Protection gives you peace in mind in knowing, while you are taking the time to fully recover, most of your income can continue, which will help you to:
- Maintain your basic household lifestyle, and
- Takes care of daily expenses, help meet mortgage repayments or pay the rent.
Furthermore, insurance premiums are generally tax deductible,
Income Protection Insurance can also be held in within your super fund or outside in your own name. There are advantages and disadvantages in both and advice is essential before making your choice. If you prefer to have an insurance policy with an insurer not related to your super fund, it is now possible to have your insurance premiums paid by your super fund, by “Life Insurance
To take the first step, contact us to find out more about income protection. We can give you the correct advice and explain how affordable Income Protection Insurance can really be! To find out more or to simply obtain a quote, contact us HERE!