Income protection insurance is a type of insurance policy taken out that provides you with regular payments during your benefit period to replace some of your income if you suffer from a sickness or injury and can no longer work.
Income protection insurance pays out a monthly benefit if you are unable to work, which you can use towards medical treatment costs and everyday living expenses.
Income protection insurance provides you with a monthly benefit payment if you are suddenly unable to work due to sickness or injury.
Income protection insurance provides you with a monthly benefit payment, usually up to 70% of your normal wage or income (subject to limits and varies across insurance providers).
You work with your insurance broker to determine a suitable amount of coverage, dependent on your individual wage/income.
To take out an income protection insurance policy please contact our team to book an appointment to discuss your circumstances and what coverage you need.
Income protection insurance and trauma insurance have many similarities, but income protection insurance provides you with a monthly benefit payment (usually up to 70% of your normal wage/income). In comparison, trauma insurance provides you with a lump sum payment in the event of a serious injury or illness, such as a heart attack, stroke or being diagnosed with cancer.
Life Wealth Protection Pty Ltd
ABN 54 666 329 531 | Corporate Authorised Representative No. 1303062
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Any information or advice contained on this website is general in nature and has been prepared without analysing your personal situation, financial needs and objectives. All products and information displayed on this website is subject to insurance policy terms and conditions including eligibility criteria, exclusions and limitations. You should carefully read the Product Disclosure Statement (PDS) of our insurers to ensure that the product fits your needs. A copy of each PDS is available on this website or by contacting us.
