The 9 insurance companies and saving of 40% is based on the highest priced product available on Rate Detective's panel versus the lowest priced product on that panel, as at 20/06/2016 and based on hypothetical 42 year old female non-smoker seeking $1m life insurance cover (premium level). Not all life insurance providers in the market are included in the comparison. The amount of any savings will depend on your circumstances.
This offer is available for all insurance companies that are on our panel. To take advantage of this offer, mention the offer to Rate Detective at the time you submit an enquiry for a quote. After 12 months we will email you a reminder that your rebate is due, so you can call to confirm your details. To be eligible for this offer, your policy needs to remain in force for the full 12 months. Any rebate to which you are entitled will be paid directly into your bank account or provided on a Gift Card.
If your policy is taken out through a Superfund, other than a SMSF, once we receive confirmation from that fund that it has rolled over the money to the insurance company you have selected, we will pay 20% of the rollover amount to your nominated bank account.
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Income Protection Insurance for Consultants
Being a consultant in any type of business puts you at an enviable position. You are your own boss, you’re not stuck to the 9-5 grind, and people come to you for your expert advice. For example, if you’re a marketing consultant, businesses go to you to help them come up with their business strategies as well as their marketing materials. Or as a financial consultant, people come to you to help them grow and manage their wealth.
However, there are downsides to this career path too. Unlike an individual who works with an employer, you won’t have the usual perks that come with the territory. So if you get sick or injured in an accident, chances are that you will have to handle the expenses on your own. Sure, you could have your health insurance take care of it, but where would you get the money for your daily expenses? You still have to eat, pay your bills, and repay your mortgage. But with the kind of job you have, you likely will not earn anything if you are not working.
That is where income protection insurance comes in. Read on for more details on the subject.
What Income Protection Insurance Does
As the name would suggest, income protection insurance is designed to help provide you with income when you’re unable to work due to an illness or injury. It works by sending you monthly benefits up to 75% of your salary. Using that money, you could then pay your bills and maintain your lifestyle even while you’re recovering.
Determining How Much You’ll Receive
Your salary would be the key factor in letting the insurer decide on the amount of benefits you’ll receive every month. Here, you’ll usually be given two options, either to receive an agreed value or indemnity value insurance policy. For self-employed individuals like you, agreed value insurance is often advisable because it ensures that the value of the benefit you’ll receive will be the same as when you first applied for the insurance. Thus, it won’t be affected by financial fluctuations common among self-employed individuals.
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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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