Income Protection Insurance for Carpenters
Being a carpenter is hard work. While there are already tools that are designed to help make your job easier, a lot still depends on your strength and experience. But you soldier on because you understand that you need the money to help build a better future for your family. A bigger home. Better education. And more opportunities to go out and see the world.
It is therefore important that you protect this future from anything that would put it at risk. One way you can do that is by protecting yourself with income protection insurance.
Have you ever thought what you would do and where you would get the money if one day you're unable to work because of an illness or injury? Chances are that you would be forced to dig into your emergency funds and your savings to help you survive. You don't have to do that, though.
With income protection insurance, you will be able to receive a regular salary that will help you weather your current situation. Depending on your policy, you will be able to receive up to 75% of your salary for several years. You could then use the money to pay for your medical bills, your recovery, as well as your household expenses.
But why get this type of insurance? The primary reason for this is to protect your future. First, with your benefits, you will, as we said earlier, have funds for your daily needs. But more than that, you will able to keep your savings intact, so you can secure your future, be it your children's college education, your home renovation, or for something else.
When getting income protection insurance, you also have to decide the length of the waiting period and the benefit period. The former is the period of time before you could start receiving your benefits. The shorter the waiting period, the higher your premiums will be. Meanwhile, the latter is the length of time during which you will receive benefits. The longer the benefit period, the more expensive the premiums.
What you need to do then is find a balance between adequate coverage and a short enough waiting period, with the level of premiums you can afford.
Get Insured Today!
Contact us on 1300 793 143 and we will organize you quotes from up to 9 Insurance companies in under 10 minutes. Our consultants will talk you through the process. Contact us today for more details!