Income Protection Insurance for Public Servants
As a public servant, you are given the unique opportunity to create real change in your community and the people who live in it. You could help build roads, provide better healthcare, and other things that you wouldn't be able to do if you were working in a different profession.
Sometimes, however, you spend so much time thinking of the welfare of others that you tend to forget about your own welfare. This could easily lead you to get sick while performing your job. Or if you travel often, you are also at risk of getting injured due to an accident.
When you get sick or injured, you do not only prevent yourself from serving your people but you also get derived of the income that you and your family needs. Without it, you would be unable to have funds for your day-to-day expenses and to pay your financial obligations such as your mortgage.
The good thing is that you could prepare for these circumstances with the help of income protection insurance. As its name would suggest, it is a type of insurance that will help protect your income when you become unable to work due to an illness or injury. When you take out this type of insurance, your insurer will provide you with monthly benefits of up to 75% of your income. These benefits could also be paid out for up to two years, depending on your specific type of policy. Thus, with income protection insurance, you will have funds to help pay for your medical expenses, your recovery, and even your daily expenses. You could also prevent yourself from using your savings and keep it intact for whatever purpose you intend to use it, such as your children's education, to pay off your loan, or to settle your credit card debts.
When choosing an income protection insurance policy, make sure you choose the indemnity value policy. The reason for this is that this policy is primarily designed with people with regular incomes in mind. So if your salary has increased in the past year, for example, so will your benefits when you take out insurance.
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!