Can income protection insurance help?
If only we could see into the future and plan for what’s coming. Unfortunately, there’s no way of knowing what’s up ahead. The best we can do is be prepared for the unexpected – such as a sudden halt to our income.
Debilitating illness and injury can strike suddenly and without warning. Same goes with redundancy. If you've got a lot of savings in the bank, then maybe you’d be okay if you suddenly became unemployed for a period. But if there’s no spare cash, the bills soon pile up, assets you worked hard for have to be sold, and the standard of living you've enjoyed is lost – maybe for just weeks or months, maybe permanently.
Insuring yourself against loss of income safeguards your financial position and brings huge peace of mind.
The benefits of income protection
If your job provides the bulk of your income, or if you’re the family’s main breadwinner, then taking out income protection is one of the best financial decisions you can make.
Income insurance is also a must-have if you’re self-employed, or are paying off big purchases or debts.
- Unlike WorkCover, income protection insurance covers you 24/7, not just while you’re working or travelling to and from work.
- The premiums for income protection insurance are usually tax-deductible
- We can pay you up to 85% of your income for up to 5 years
- Get regular payments of up to $7,500 per month on our Time Saver policy, and up to $10,000 per month on Rate Saver. Pre-existing medical conditions are excluded from cover under the Time Saver option
- Pay your premium annually and get one month FREE
- Alternatively, pay premiums fortnightly or monthly, whichever suits your pay cycle
Making a claim against your income insurance is quick and easy once we have your most recent payslips and medical certification.
And, we’ll offer you a full cash back guarantee for 30 days after your application is approved. So, if you change your mind about anything you can cancel without losing any money.