Have you thought of how you and your family would cope if you were unable to generate an income?
Life expectancy in Australia has improved dramatically over the years and we are living a much longer life. Itís important to prepare for ëif you were to liveí just as it is important to plan for ëif you were no longer here to support your familyí.
Income protection insurance (also known as salary continuance or income replacement) provides a monthly payment to replace lost income if you are unable to work due to injury or sickness.
Generally Income Protection pays a monthly benefit up to 75% of your regular income while youíre unable to work due to injury or sickness.
Itís also important to consider the implications of having your income protection as part of your superannuation plan versus having your income protection as a standalone policy.
To find out more about how Income Protection could work for you, Contact us today for a complimentary and without obligation initial discussion.