Income Protection Insurance isn’t just for unexpected illness or injury, it can also help if there are other reasons you can’t work.
You may already know that income protection insurance can help with the cost of living if you’re unable to earn an income due to sickness or injury.
If there are people in your life who depend on your income for help with their living expenses, such as groceries, petrol, mortgage payments, school fees and other bills, income protection can help you and your family cover these payments.
Did you also know that income protection insurance can help if you are involuntarily made redundant from your job?
With an Insuranceline Income Protection policy with Involuntary Unemployment Cover, you could be paid up to 85% of your income (maximum $3,000 per month) for up to three months in the event of involuntary redundancy. This optional cover is available at an extra cost.
Involuntary Unemployment Cover is available to permanent employees working 30 hours per week or more with cover commencing six months from the cover start date. Waiting periods, limitations and exclusions apply on all cover options. You can find out more about Insuranceline’s Involuntary Unemployment Cover by reading the PDS.
Income protection can help absorb the shock
Being made redundant can be a shock and it may take a while to find a new job. Income protection insurance with involuntary redundancy cover can relieve the financial pressure and help you and your family maintain your lifestyle.
Help if you’re self-employed
Another benefit of Insuranceline’s Involuntary Unemployment Cover is that it can help those who are self-employed. As an optional extra, Involuntary Unemployment Cover can help small business owners and sole traders if they become insolvent as a result of business debts.
Insuranceline’s friendly Insurance Representatives are available on 1300 880 750 Mon-Fri between 8am-8pm (AEST), for you to talk to and discuss the insurance options that are right for you and your family, to help provide financial security in the event of not being able to earn an income.
Or you can head to our simple quote tool and enter your details for a quick quote in under two minutes.
Products issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848. Involuntary Unemployment Cover issued by St Andrew’s Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649.