Income Protection Australia
About Income Protection
Income Protection in Australia is a very easy product to understand compared to other forms of insurance. You pay a monthly policy fee which will cover you for up to 75% of your income for a nominated period, or until you can get back to work, should you become sick or injured. Usually people take income protection insurance to provide an income stream up to age 65, but shorter policy lengths of 2 or 5 years are also common.
Why Income Protection Insurance?
- The policy fee will vary according to your occupation, age, gender, nominated period to be covered for and medical history.
- Income Protection is generally used in conjunction with a separate life insurance policy.
- When you contact us, we will provide you with income protection quote taking into account your personal details.
- Unlike other forms of insurance, income protection insurance in Australia is fully tax deductible.
Purchasing an income protection insurance policy, is likeable to purchasing protection against financial ruin, should you unexpectedly fall ill or have an accident that prevents you from working and earning an income. An income protection claim will pay up to 75% of your average annual earnings. For this reason, an income protection policy will ensure you can continue paying for the everyday expenses such as mortgage repayments, school fees and the like should you be unexpectedly forced to stop working through illness or injury.
After cheap Income Protection Insurance?
As there are countless income protection policies available in Australia, it makes sense to utilise the skills of a qualified advisers when determining the policy that is best and cheapest for you. To the layman, deciphering the difference between premiums and their associated benefits and payment options can seem impossible. So leave it to the experts and get a qualified professional to do the hard work for you. Just submit income protection quote form.
Still need more information about Australian income protection? Read comprehensive article about income protection insurance on Rate Detective website.