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PERSONAL
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A Corporate Authorised Representative of
Millennium3 Financial Services Pty Ltd
ABN 61 094 529 967
AFS Lic. No. 244252
Head Office
7/50 Borthwick Ave,
Murrarie QLD 4172 |
 Protect Your Greatest Asset You insure your car, the family home and even your health - so why not your ability to earn an income?
Have you ever thought about what would happen if you became ill or were injured and couldn't work for an extended period of time? Would you be able to meet your financial commitments without your regular income? If not, it's time you considered income protection.
When you think about what life would be like without your regular income, your earning capacity is possibly your greatest asset. If you could no longer work, how will you maintain daily expenses and pay the mortgage? And what about unexpected hospital bills?
What is income protection?
Income protection protects your earnings if you're unable to work due to injury or illness. It offers a regular payment (up to 75 per cent of your average monthly income capped at $6,500 a month) to ensure you and your family can maintain your standard of living until you return to work.
Recovering from an injury or illness is hard enough without worrying where your next dollar is coming from. Because the last thing you need to worry about when you're sick is the possiblibity of losing your family home.
How do I know if I need income protection?
Do you have financial commitments? Could you meet these commitments if you were unable to work? If you've answered 'No' to this last question, then you should consider income protection.
Not only does income protection give you financial security, in some circumstances the premiums can be tax deductible.
But I'm already covered?
You should check if worker's compensation and your superannuation provide you with adequate disability cover. Worker's compensation only covers you for work related injuries and in most states throughout Australia, in some instances you're no longer covered by WorkCover whilst travelling to and from work.
You might also find that the insurance offered by your superannuation fund may only cover you if your injury creates some form of permanent disability that stops you from working in your current job. This means that if you fell ill with a long term illness, or you were injured whilst playing sport, you may not be covered.
An Income Protection Plan offers you and your family the protection of a regular income if you cannot work due to sickness or injury. To find out more about how you and your family can benefit from income protection insurance, please contact us today.
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INSURANCE
Mt Isa Insurance Consultants is not authorized to provide advice on general insurance products however has a referral arrangement with Elders Insurance Limited who will be able to assist you.
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