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 IT Consultants
As an IT consultant, companies come to you when they seek the expertise of someone on everything IT-related. This comes with a number of perks. For one, being a consultant puts you at a level above regular employees since you're seen as an expert. Aside from that, you are not bound by the 9-5 schedule of those with day jobs. Rather, your time is a lot more flexible, enabling you to do more than just sit in an office the whole day.
There are some tradeoffs to being a consultant too, of course. One of these is that you don't have an employer who will be able to provide you with health or other types of insurance when you get sick. Another thing is that when you do get ill or injured and are unable to work, you won't have any income. This naturally would put your finances at risk. The great thing, though is that there's such a thing called income protection insurance. And that's what this article is all about.
About Income Protection Insurance
Income protection insurance is a type of insurance that is specifically designed to provide you with income when you're unable to work due to an illness or injury. How it works is that your insurer will provide you with monthly benefits (up to 75% of your salary) for a definite period. You could then use the money you receive to pay your medical expenses, the expenses involved with your recovery, as well as your day-to-day expenses.
There are two ways how insurers compute the amount of benefits you will receive. First is indemnity value insurance policy. In this option, the amount of benefits is based on your last few paychecks. This is good if you are a regular employee who expects regular salary increases, but you aren't. Thus, there's also the agreed value insurance policy. The value of your monthly benefits when you take out the policy is based on your agreement with the insurer when you first applied for the policy. Thus, the benefits you receive won't be affected by fluctuations in your income, making it perfect for consultants like you. The cost of the premium may be higher in an agreed value policy, but it gives you better coverage than indemnity value.
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!
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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.
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