Income Protection Insurance
Income Protection insurance provides you with a regular (usually monthly) taxable income in the event that you become sick or injured. You can insure up to 75% of your current income. This insurance can provide you with protection until you retire.
Income protection cover ensures that your assets aren’t sold or spent to replace lost income. It enables you and your family to continue to enjoy the lifestyle you have worked hard to build.
Also, if you have established an investment program to meet your lifestyle and financial goals, this insurance also ensures the ongoing implementation of your strategy.
Income protection insurance held personally (ie. not inside superannuation) is tax deductible to the individual in their annual tax return. So, for a taxpayer on the top marginal rate, the cost is effectively around half the annual premium.
If you would like more information please contact us.