You have probably insured your house, your car, your things, but what about YOU?
A study by Newspoll in 2008 found that 70% of Australian workers said that if they were off sick or injured, they would have to dip into their savings to survive. Over 40% said their money would run out in a month if they had to.
Your earning potential is your single biggest asset above all else, and Income Protection provides protection if you are off work sick or injured.
Quick Facts about Income Protection:
Pays after a waiting period – Usually 14,30 or 60 days
Pays for a pre-determined period of time – Either 2 years, 5 years, or Till Age 65.
To insure 75% of your gross income, it generally cost around 1-2%.
Would you be willing to spend 1% to insure 75%?
The premiums are also tax deductible to self employed and employed.
Please contact our advisers below for help in determining the best possible cover and premiums.
What would you expect to pay for such protection?
Through one of the major insurers, a 40 year old male earning $50,000 year would pay approximately $35.54 month. (Assuming this person is a non smoking office worker in reasonably good health). Remember, these premiums are tax deductible and can also be funded through superannuation. Please speak to one of our experienced advisers for more details on Skype or complete your details below.
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