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For housewives and moms that work less than twenty hours a week, there is now part time income protection cover available, although this type of cover is not available to women who are self employed. The terms and conditions state that you must be unable to perform two or more domestic duties that are listed by the company. For further information with regards to the policy document and disclosure statement read the Priceline protects insurance policy. However, there is no guarantee of a monthly benefit, if the disablement at the time of claim is less than 75% of the monthly claim as stipulated in the policy document, then the claim will be calculated accordingly, and if it proves to be more, then the benefit will not be increased. For part time income protection cover a minimal premium amount is payable. In order for the minimum premium requirement to be met, Priceline can automatically increase your level of cover that does not exceed 75% of your gross monthly income as pricelineprotects.com.au appreciates that being a mother is a full time job, and there is a level of cover to protect full time moms as well. If you became injured or ill, with Home Time cover you would still be able to take care of your family. Monthly insurance payments such as Home Time help meet costs such as medical expenses, shopping, and childcare, cleaning and cooking expenses. In addition there is also a waiver of monthly premiums and there will also be three times your fixed monthly benefit paid out if you were to pass away due to the illness or injury sustained while receiving a claim. Priceline also takes into account potential income increases and will also assist you against the inflation impact, as your specified monthly benefit stipulated in your policy schedule will increase by 5% automatically annually on the renewal date of the policy. The variable monthly benefit of either a Full Time or Part Time policy may not exceed 75% of your pre disablement income. You also need to bear in mind that there are certain things that are not covered, so make sure you read all the fine print before signing up. You need to note that you can only be covered under one Priceline Protects income protection cover, so make sure you read the policy document and product disclosure thoroughly. If your current working situation changes you need to let the company know timorously. Should an accident happen or you become ill and you are not covered by your employer, it is of the utmost importance you have income protection insurance from Priceline Protects.
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