INCOME PROTECTION INSURANCE – Brad Lofts | Sterling Financial Services
Income Protection Insurance provides an income stream should you become unable to work due to illness or injury. Benefits are paid monthly, not as a lump sum – which helps to ease the day to day financial burden of being unable to work.
The amount of cover is normally restricted to 75% of your gross salary.
The choices in cover, depend entirely on an individuals circumstances. However some would argue that income protection is probably the most important type of insurance – after all where would you be without your income?
How well could you survive without your income for a period of 12 months or longer? Your income is used to maintain a certain living standard and also to build wealth and provide for your retirement. Unlike Trauma insurance, Income Protection does not specify a list of accepted conditions. Therefore greater coverage is provided, particularly for temporary illnesses such as back injury and stress related illnesses.
Unlike other forms of personal risk insurance, Income Protection premiums are tax deductible for most taxpayers. The after tax cost of the cover can therefore be significantly less than the cost of the premium.
SPECIAL LIMITED OFFER – REDUCED PREMIUMS BY UP TO 20% OFF – WITHOUT REDUCING COVER!!! email brad@sterlingfs.com.au for more information today
OFFER EXPIRES FRIDAY 21st OCTOBER 2011
Conditions apply. Premium reductions are dependant on amount of cover obtained and subject to change without notice.
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