Income Protection Cover.
This insurance policy that replaces up to 75% of your income, if you are unable to work due to illness or an accident. It doesn’t matter whether or not you have children or other dependants – if illness would mean you couldn’t pay the bills, you should consider income protection insurance. You’re most likely to need it if you’re self-employed or employed and you don’t have sick pay to fall back on
ARE OUR PRIORITIES RIGHT?
83% of us have care insurance yet only 31% of us insure our income Did you know 20% of mortgage defaults are due to ‘illness or accident in household’ Source:: lifewise.org.au Income protection does not pay out a lump sum but instead replaces a certain percentage of your income usually 75%. It’s about protecting what’s most important in life.
If you would like more information on this subject please ask our team for best Critical Illness insurance advice in Australia.
