Income Protection

We tend to take for granted our ability to work and earn an income and often don’t seriously consider the prospect of being unable to do so.


However, losing your income could have a devastating effect on your future plans, lifestyle and financial security.


Income protection insurance provides you with a portion of your employment income for a specified period of time after a set waiting period has been served, until you are either able to return to employment or the policy expires. The benefit is paid to you on an ongoing basis (not as a lump sum), and is taxable as normal income.


The premiums you pay for cover are fully tax deductible. You can also own cover either personally or through Superannuation.


There are a range of options, ancillary benefits and definitions that mean navigating the marketplace for a suitable policy can be daunting. It is important that you seek professional advice on the range of options available so that you end up with the policy that is right for you.