Income Protection Insurance AustraliaIncome protection insurance in Australia provides income replacement while you are totally disabled or partially disabled and unable to work as a result of either sickness or injury.Typically income protection insurance pays a fixed monthly payment (usually up to 75% of your income) if you are temporarily unable to work due to a disability. These payments can be used to meet everyday living expenses such as mortgage repayments and other household costs. The amount of income replacement is decided at policy commencement. Inflation ProofingCover amounts will automatically increase each year to stem negative effects of inflation. Each year your income protection insurance will adjust you premium to reflect this increase. You will be notified of any changes and have the option to decline the increase.EligibilityUsually, most people between the ages of 20 to 60 inclusive is eligible for this type of cover. You will be asked you some questions about your health, lifestyle and family medical history to determine whether or not you are eligible for cover.Get a FREE Income Protection Quote Online and figure out your insurance costs quickly and easily! |
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