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 Software Developers
Whether you are self-employed or work for a company, being a software developer can be physically and mentally taxing at times. Aside from just building software and ensuring that it works flawlessly, sometimes you also have to deal with clients who demand a lot from you when it comes to providing updates and meeting deadlines.
Of course all these are fine because they come with the territory. However, what would you do when you wake up one day and are suddenly unable to work because you fell seriously ill or were injured?
Your health insurance can help pay for your medical expenses in case of an emergency. But while you aren't working, you also aren't earning anything. You could use some money from your savings, but you really shouldn't because you put that away for something else, be it for your children's education or to buy a new home. This is where income protection insurance can help you.
How Income Protection Insurance Works
Income protection insurance is a type of insurance where you receive up to 75% of your salary on a monthly basis. Its primary purpose is to provide you with funds while you're not working and are still trying to recover from your condition. With the money, you would be able to fill in the financial void you left temporarily until you could get back to work again.
Indemnity Vs. Agreed Value Insurance
When you apply for income protection insurance, you would be given a choice between indemnity and agreed value insurance. So what's the difference between the two? An indemnity insurance policy is designed for individuals who receive a regular salary, since the value of the benefits is based on the insured's average salary. It is also more affordable than the other option.
Meanwhile, an agreed value insurance policy is more ideal for self-employed individuals. Since their income may fluctuate over time, this type of policy protects the insured by coming up with an agreed benefit amount that he will receive regardless of the changes in his income.
Apply for Income Protection Insurance Here
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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