Whether you’re a young single, or have a family to look after, your income is one of your most valuable assets. Think about it, if you were suddenly injured or became ill and couldn’t earn an income, how would you keep the bills under control?
It’s something that many of us don’t wish to think about – but what would happen if your income stopped suddenly because you were no longer able to work? Could you, or your partner, continue to meet your mortgage repayments? How would you cover ongoing bills or your children’s school fees?
85% of Australians have car insurance; however, alarmingly only 31% of us have income protection!
With Income Protection Cover, you can secure a steady income that can help protect your lifestyle so you can focus on getting well without additional financial strain.
Income protection cover can replace up to 75% of your regular income, as well as additional superannuation contributions, if you cannot work due to illness or injury. Premiums are also generally tax-deductible, depending on your individual circumstances.
There have also been several improvements to Income Protection cover offered under superannuation.