These policies provide cover for income lost due to the inability to work through sickness or accident. They pay a regular income stream either fortnightly or monthly, depending on the policy provisions. The amount of cover you can purchase is restricted, normally to 75% of your monthly income earned.
MAXIMUM COVER AVAILABLE
Contracts will cover up to 75% of income, with superior policies acknowledging the role of salary packages in determining income. Many policies only consider PAYG salaries, thereby leaving the insured at a substantial financial disadvantage if unable to work. Many contracts allow a further 15% to be paid into a superannuation fund of the client’s choice, effectively providing for 90% covering the salary.
We have access to a range of products designed to meet your needs, contact us to arrange a free initial interview.