Our quality of life is something we often take for granted. Every day, someone’s life is changed dramatically by being:
- Involved in an accident, or
- Diagnosed with a serious illness
It is this sort of unfortunate circumstance that can affect the level of income you will receive, either for a period of time or for the rest of your life.
An Income Protection plan for yourself (if you are single), but also for your family (if applicable) can help you to meet your financial commitments by providing regular payments if you are unable to work due to injury or sickness. Income Protection allows you to continue to pay for your ongoing living expenses like; petrol, food, electricity, school fees, loan repayments plus many more everyday expenses.
Income Protection insurance pays up to 75% of your pre-tax income due to illness or injury
Under current government legislation Income Protection premiums are generally tax deductible. If you have income protection already – a review will ensure that it is still the most appropriate policy for you.