Compare Income Protection for Managers

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Not all providers in the market are included in the comparison.

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.

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Income Protection for General Managers

If you are managing 2 or more people you might qualify for a higher occupational rating for Income Protection Insurance, which could significantly reduce your price. We can provide a free comparison to find you the most competitive rate from our panel of 9 insurance companies.

According to salary comparison websites, PayScale, the average salary of a general manager in Australia is $89,651, with the upper end going up to as much as $168,070.

These figures put general managers above the average Australian salary, which is at $69,992. But what would you do if you suddenly fell ill or got injured? Your health insurance and your employer could help you up to a certain extent. However, your employer might have to let go of you eventually should you need a longer time to recover.

That is where income protection insurance comes in. It is a type of insurance that is designed for people earning a living to receive regular salary in case they are unable to work due to an illness or injury.

How Income Protection Insurance Works

As with most types of insurance, you would have to lodge a claim with your insurance company before you can receive your benefits. There is a waiting period of at least 14 days before you are eligible to receive your claim. Once that waiting period is over, you will get monthly benefits of up to 75% of your salary.

Most insurance companies provide payouts up to age 65 and now increasingly many are offering an age 70 benefit. The minimum benefit period for the companies on our panel is 2 years.

Can Income Protection be paid from Superannuation?

Your income protection premiums can be paid inside or outside of your superannuation in most cases. If you choose to pay outside of your superannuation, premiums are generally tax deductible at your marginal tax rate. If you choose to pay inside your super, your super can make an annual payment to the insurance company by what is known as a partial rollover. If paid from your super fund you get an update 15% tax rebate in most cases.

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!

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!

AMP
AMP
CommInsure
CommInsure
MLC
MLC
Zurich
Zurich
AIA
AIA
Asteron
Asteron
ClearView
ClearView
OnePath
OnePath
TAL
TAL