Income Protection Insurance
Income Protection Insurance is the back-bone of your financial
management plan because, without an income, everything else
is at risk ...
Whilst most Australians insure their
home, household contents, their car/s - and even their life -
many more neglect this critical area of financial protection.
If your income were lost through disablement ...
much will you save on your income protection
could you afford the monthly
repayments on mortgages, credit cards and loan contracts
without income insurance?
could you pay the insurance
premiums without adequate income insurance protection?
Investors who use negative
gearing strategies to offset tax losses on shares or
property investments may lose more than just their income in
the event of disablement.
Without adequate disability
income insurance, a loss of income can often result in
the loss of the very tax benefits that underpin the
Compare Income Insurance
Price is not the only
consideration when you compare Income Protection Insurance
in Australia. Policy definitions vary considerable from one
company to the next - so it is important that you have the
benefit of all the information needed to help you with your
income insurance buying decisions.
When you request a
protection insurance quote request via this website, you
will be immediately connected with one of Australia's
leading insurance specialists who will be in a position to
provide both quotes and product comparisons from a range of,
if not all of Australia's best Income Protection Insurers.
Premium Rate Variations
Quotes for your income insurance
can vary dramatically The amount that you will be
expected to pay for your income protection will depend on
There are also a number of other critical factors that will
affect the price you pay including;
Benefit payment period. A policy that offers long-term
disability benefits can be considerably more expensive than one
that limits payments for disablement for only a short term.
Benefit deferment period (policy excess). Policies with a short
deferment (e.g. 14 days) can be considerably more expensive
than one with even a slightly longer excess (e.g. 30 days)
Stepped or level premiums. A "stepped" premium is one that
increases (sometimes dramatically) with your age. A "level"
premium is more expensive at the outset but potentially much
cheaper over time.
Agreed Value or Indemnity benefits. An agreed value policy will
pay your monthly benefit on the face value of the policy. An
indemnity policy will re-assess your income at the time of claim
and your claim benefits may be reduced accordingly. Indemnity
policies are cheaper but may not provide as much certainty.
Guaranteed renewability. Most income insurance policies require
the insurer to guarantee renewal of your policy each year
irrespective of any claims or changes in circumstances. There
are cheap policies on the market that do not offer renewal
Pre-existing conditions. Some policies have a blanket exclusion
on pre-existing conditions (conditions that the insured knew
about or should have known about when they bought the
insurance). These policies are generally cheaper than full cover
Before making a decision on which policy is best for you, we
strongly recommend that you seek advice from a licensed professional
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