|
Many people are far too busy to worry about the importance of an insurance plan and seldom give a second thought to what would happen if the unexpected occurred. Excluding your hospital bills, a serious illness or accident can have a serious effect on your finances. One has to consider their monthly expenses and day to day living expenses, and without a salary you would face real hardships in addition to your illness or accident. A survey carried out in Australia revealed that around 12% of Australians annually suffer from long term illnesses or meet with accidents which is around two million people year. A way to protect your income is having income protection insurance in the event of a debilitating disease or an accident. Income protection insurance is tax deductible and you have the option to structure your income protection cover in such a way that you won’t have to pay direct insurance premiums; you can opt for your superannuation to pay the monthly premiums. Should you meet with a terminal illness or accident your income protection insurance will pay 75% of your monthly income, and depending on what type of policy you opted for, the policy may also include paying for therapists and rehabilitation costs, which will ensure you get better quickly and can once again resume work. Taking out income protection insurance Australia will ensure that you can continue the lifestyle you are accustomed to while recovering, and then once again resume work. In the event of you not being able to work, having income protection cover will give you peace of mind, knowing that you and your family a protected financially. You have the option to pay your insurance premiums from your superannuation; which is a tax strategy that not many people are aware of, which will have little or no effect on your immediate cash flow. By going online you can find what options are available to you and speak to an insurance agent that can help you structure an ideal income protection plan to suit your needs and your pocket. Having income protection insurance is an important asset, just as is earning a monthly income. Your lifestyle s dependent on your income, and if you were to meet with an accident or become critically ill, would you be able to survive without an income. Income protection insurance plays a vital role in your lifestyle and will continue to pay your mortgage and other such bills is you were unable to work for a period of time. The benefits could help you meet your monthly financial commitments during a stressful time.
Related Articles -
life insurace australia, life insurance australia, life insurance online, life insurance quotes online, insurance australia, insurance for women, insu,
|
