Compare Income Protection for Truck Drivers

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Income Protection Insurance for Truck Drivers

Being a truck driver can be quite a challenging job. You work long hours and spend a lot of time away from home. Aside from those things, you also need to be extra focused with your work, especially when ensuring the safety of your cargo and that it gets to its destination on time.

However, there's one important thing that many truck drivers in Australia forget: their own safety. A lot things could happen on the road. And when you get sick or injured, you might be unable to work, which could lead you to lose your income. In that case, there's income protection insurance. We'll discuss more about this in the following paragraphs, so if you're ready then read on.

What Income Protection Insurance Does

Income protection insurance is a specific type of insurance that is designed to help you earn income even when you're unable to work due to an illness or injury. When you take out income protection insurance, you will be able to receive monthly benefits of up to 75% of your salary. This is important, because you could use the money to help you pay for your medical expenses, the expenses involved in your recovery, as well as your daily household expenses.

Things to Consider

Like other types of insurance, there are a number of factors that you need to consider to help you choose the right policy for you. First of these is making the choice between indemnity and agreed value insurance policy. If you receive regular salaries with a possibility of an increase, we recommend that you choose indemnity value. The reason for this is that that type of policy considers your last few paychecks to determine the value of the benefits you will receive. It is also more affordable than the agreed value option.

Another thing to consider is the waiting period. Insurers usually offer 30 and 90-day waiting periods before you could receive your first benefit. Naturally, you'd want to get the benefit as soon as possible, but shorter waiting periods cost more than longer ones. It's up to you then, to decide whether getting your benefits sooner or saving money is more important to you.

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