Over 3.3 million Australians or around 29 per cent of the workforce is employed part-time, so the Australian Insurance industry has realised the need for income protection insurance for part-time workers.
Many Australian insurance companies are now prepared to offer income protection insurance to part-time workers. This is especially perfect for mothers and wives who are forced through necessity to return to the workplace, but who still need to spend time at home with their children (72% of part-time workers in Australia are female).
Quite a few insurance companies are now offering income protection to clients who work at least 20 hours per week. So if you are 19-50 years old and working for 20-29 hours per week you are most likely eligible for income protection cover. Your occupation must be on the insurable occupation list though.
Income protection insurance can provide you with an income if you are unable to work due to sickness or accident. Many policies will cover up to 75% of your salary.
If your part-time income used to pay for bills and put food on the table, then income protection insurance is a must. Income protection policies are very flexible and can be tailored to suit your individual and family circumstances, thus making it affordable for part-time workers too.
At Rate Detective we compare all major life insurance companies in Australia. Please call us on 1300 793 143 or fill out the form on this page and one of our experienced advisers will help to find best income protection insurance for part-time workers in Australia.