Income Protection Insurance

What is Income Protection Insurance?

Put simply, Income protection insurance aims to protect your income in the event that you can’t work due to illness or injury.

How income protection insurance works?

Income Protection insurance provides an income stream for you should you become unable to work due to an injury or illness. In the event of a claim, the insurer will pay an amount (normally up to 75% of your gross salary in Australia) until you have recovered sufficiently to work again, or up until the maximum benefit period as stated in the policy which is normally 2 year, 5 year or up to age 65.

income protection

Like this:

Be the first to like this post.

This entry was posted on July 14, 2009 at 5:06 am and is filed under income protection. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.