WEALTH CREATIONS

Income Protection

Income Protection provides up to 75% of your Income if you are sick or injured and are permanently or temporarily unable to work. Premiums are generally tax deductible. Benefits are normally paid monthly and like your Income, are generally subject to tax.

 

Most insurers will also have additional benefits such as the Specified Injuries Benefit which will provide you with advanced payments for Specified Injuries such as broken collarbones, legs etc.

 

Income Protection is vital if you are the main breadwinner for your household and or you don't have sufficient savings to cover unexpected expenses such as your mortgage and/or medical bills.

 

Did you know?

1 in 5 males and 1 in 4 females will suffer a critical illness between the ages of 30 and 64. 1

 

1. General Cologne Life Re Australia 2002