For most of us, our future earning ability is likely to be our most important asset. Significant financial strain can occur if you are unable to earn an income for an extended period due to illness or accident.
Income protection policies will provide a regular income for the insured (after the stand-down period/wait period) in the event the insured is unable to work for 10 hours or more per week, due to illness or injury.
For businesses, this may allow replacement of personnel enabling continuance of the business (including use of a locum), ensure business expenses are paid, and offer replacement revenue.
Key Features of Income Protection Insurance:
- Income Support
- Rehabilitation & Retraining
- Recurrent Disability
- Return to Work
- Home modification or equipment support
- Property Special Events
- Bed Confinement
- Suspension of Cover
- Future Insurability
- Waiver of Premiums
- World-wide Cover