Nobody expects to experience a loss of income due to injury or illness. But, accidents and sickness can strike when you least expect it, and can leave yourself, and your family, exposed to financial hardship. Income Protection can relieve some of the hardship upon successful claim.
Income protection insurance supports you during the temporary period of your recovery, and provides peace of mind while you get back on your feet. It can pay a percentage of your income (usually 75% including superannuation) if you are to suffer an injury or illness that prevents you from working. The cover is 24/7 so you are covered even outside of work. The cover is also world-wide, which means you are covered if you are overseas on holidays as well.
How much cover do I need?
Standard income protection usually covers 75% of your current income including superannuation, for a set period of time (e.g. two years, or until age 65). However, there are some policies that offer a higher percentage of cover, and it is important to take into account your current and future budget requirements before selecting the level of cover that is right for you.
Before selecting a policy, calculate your standard costs of living. These include:
Mortgage repayments or rent
Car loan payments
Education costs for dependents
Other day-to-day costs of living
At Rate Detective we compare offers from 12 different insurance companies. All the companies on our panel perform medical assessments prior to application, thus ensuring that you do not pay more than necessary for your life insurance.
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RATE DETECTIVE PTY LTD. AUSTRALIAN CREDIT LICENCE NO. 469009
The Rate Detective brand is operated by Spotter Finance Pty Ltd an authorised representatives (AR Number 1254369) of Crown Wealth Group Pty Ltd ABN 22 603 037 510 Australian Financial Services Licensee 494274. Spotter Finance and its advisers are authorised to advise and deal in superannuation and life insurance products only.
Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information or advice on this website, you should consider the appropriateness of it (and any relevant product) having regard to your circumstances and, if a current offer document is available, read the offer document before acquiring products named on this website. Please note our advice does not include independent financial, legal and taxation advice prior to acquiring a product.
Not all providers of insurance, mortgages, and credit cards on the market are included in our comparisons. The amount of any savings will depend on your circumstances.
The financial products compared on this website do not necessarily compare all features that may be relevant to you. Comparisons are made on the basis of price only and different products may have different features and different levels of coverage.
Compare life insurance, home loans, income protection and credit cards to find a competitive rate for your situation by providing you prices for all products on our panel. There are hundreds of choices out there, and our guides and calculators can help you when you are searching for these products.
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