WHY SHOULD I BUY INCOME PROTECTION INSURANCE?

"What is your single most valuable asset?" We tend to think of assets in concrete terms, so your answer may well be your home or your investments.  But in fact, your most valuable asset is your ability to earn a good income, obtained after years of study, a great deal of hard work, and a commitment to your profession.

Income Protection Insurance is probably the easiest and most cost effective means of providing financial security for yourself in the event of disablement through sickness or accident.  Premiums are fully tax deductible and can be paid monthly. Income Protection helps you to:

• Maintain your standard of living if you have to stop working;
• Meet your mortgage, car and other debt repayments;
• Afford ongoing school fees;
• Contribute to superannuation and plan for your retirement;
• Pay your medical and other regular bills; and
• Minimise financial pressure and focus on recovering.

Example of Product Features:

• Total & Partial Disability
  If you are totally disabled you will receive full benefits under your policy until you are able to return to work. Should you be unable to work full time, partial disability benefits are also available.
  
  
• Business Expenses / Practice Overheads (optional)
  Additional insurance to cover eligible business expenses that you are required to pay each month whilst you are unable to work.
  
  
• 24 hour Worldwide Cover
  You are covered 24 hours a day, 7 days a week, anywhere in the world.
  
  
• Indexation
  Indexation of your sum insured is offered every year. You may decline to accept the offer to increase. This will not affect any further offers made.
  
  
• Full Benefits (no offsets)
  For Barristers and Medical Practitioners, benefit entitlements will not be reduced by sick leave, workers compensation or social security payments.
  
  
• Waiver of Premium and Extended Waiver of Premium
  Full instalment premiums are waived while you are on claim for Total or Partial Disability. This waiver may also be extended to include Premiums for Life, TPD and Trauma Insurance policies.
  
  
• Agreed Value (optional)
  This benefit provides a set amount as your monthly benefit, as agreed between you and the insurer. The insurer will pay you this monthly amount, including indexation increases, in the event of your becoming totally disabled. Evidence of income is required at time of application. There will be no further requirement to prove income at claim stage.
  
  
• Guaranteed Renewable
  While your policy is in force the Insurer may guarantee to renew it regardless of changes to your occupation, health or pastimes.
  

For more information regarding Income Protection Insurance or an obligation free premium quotation, please contact us.