Income Protection Insurance

Income Protection Insurance ...............ensuring your most valuable asset which is you earning an income

Should you be unable to work due to sickness or injury, and unable to earn your income, the monthly benefit replaces a significant portion of lost income to help maintain your financial independence/stability while you rest and get well.

Unable to work
Income Cover pays a monthly if you are unable to work, from the end of the selected waiting period till you return to work or then end of benefit period. You may be entitled to a Partial Disability Benefit if you go back to work but you are not able to work full time

Benefit Agreed value or Indemnity
There are two options when applying for Income Cover:

  1. Agreed value.... You have the choice to provide financial evidence at application time. which is not then financially assessed again at claims time.
  2. Indemnity Cover. Alternatively, you can choose to purchase Indemnity Income Cover which will be calculated based on the income you can prove you were earning just before becoming ill.

Your choice of waiting periods
Cover terms and payment terms differ from company to company but in most cases Income Cover provides you with the flexibility to structure your plan to most closely suit your needs. You have a choice of time before your monthly Income Cover claim payment begins after becoming ill either 4, 8, 13, 26, 52, or 104 weeks. You also have a choice of two cover terms, either to age 65 or 70, and six payment term options of 3, 6 or 12 months, 2 or 5 years, or to the end of the cover term. I will assist you to understand the implications of these options to enable you to make the best choice for your personal circumstances and budget.