Income Cover

Are you protecting your greatest asset, your ability to earn? Just because your health suffers a setback, your financial wellbeing doesn't have to. When illness and accidents leave you unable to work, income protection can protect you from the consequences.

Disability Income Protection provides you with a monthly payment if you are unable to work, due to illness or injury.

There are two types of Income Cover:

Agreed Value policies typically provide a monthly benefit of an amount set at the time the policy is taken out, to a maximum of 55% of your earnings. This type of cover is usually the preferred option for people who have no problem supplying earning details at the time the policy is taken out. Agreed Value benefits are usually not taxable.

Indemnity policies typically provide a monthly benefit of 75% of your earnings prior to disablement. This type of benefit is taxable and is usually the preferred option for self employed people who have trouble providing earning details at the time the policy is taken out.

Your Adviser can discuss these options further with you.