What is Income Protection?
As a breadwinner, your most valuable asset is your skills and ability to earn a steady income. Unfortunately, there are instances where you are not able to do so.
Income Protection covers you when you are unable to attend to your usual occupation due to illnesses or injury. Depending on your policy you will receive a sum of money during your “benefit period”. Income protection pays you up to 75% of your gross annual income on a monthly period for up to two years.
Why Choose Absolute Insurance?
A significant number of Australians are underinsured or not insured at all. Why take the risk endangering your financial stability when you can get Income Protection conveniently?
Absolute Insurance is one of the most reliable providers of Income Protection Insurance in Perth. They are a family-run company that finds you premiums that fit your personal needs. For over two decades, Absolute Insurance has been helping out Perth locals find the right Insurance for them.
Should I get income protection insurance?
Income Insurance replaces lost revenue due to illnesses and injuries that keep you from working. While you’re away from your usual activities, this Insurance helps you maintain your general standards of living.
If you have dependents who gravely rely on you to put food on the table, or you have people to look out for getting income protection insurance is one way to ensure you’d always be able to bring home the bacon.
What Does Income Protection Not Cover?
While income protection is a great way to ensure your standards of living, there are situations that it does not cover.
If the illness or injury you incur does not last until the policy waiting period, you will not be covered by income protection. Disablement due to mental illnesses, normal pregnancy, and involuntary unemployment are also not covered by insurance protection.
What’s the average cost of income protection?
Australians often pay from $30 to $102 per month for income protection insurance. Lifestyle, occupation, and age are key factors that affect the cost of your premium. If you have a higher monthly income your premium would cost more; on the other hand, this means that your monthly payout should you claim income protection would be higher as well.
What Is The Best Income Protection Insurance?
There are different coverages for income protection. The easiest way to know you’re getting the right policy that fits your needs and will be able to help you out, in the long run, is to seek a reliable and trusted insurance provider that will cater their policies to your needs.
Absolute Insurance in Perth provides quality personal income protection that ensures you have nothing to worry about. You can rest easy with the knowledge that you are covered and insured 24/7
CLAIM YOUR FREE CONSULTATION
Want to find out more or not sure where to start? Get in touch for your free consultation. We’ll meet you at a Perth location that’s convenient to you to discuss how we can help you.