Income Protection / Income Assistance
Typical Income protection insurance pays out a regular cash payment that replaces part of your lost income if you can't work due to a medium to long-term illness or disability. Information from your application that could affect the price include: Age, Gender, Smoking, Current and past health, family medical history or your work and lifestyle. Tax benefits can make premiums more affordable on this type of Protection.
Some companies offering Income Assistance cover will provide you with additional cash benefit. As well as the crucial monthly benefit you can also receive Hospitalisation Benefit, Serious Injury Benefit and Accidental Death Benefit. If you are interested in Accidental Payment to cover period of time you are not working after having an accident we could arrange it as part of your Life Term Policy.
Costs of Income Protection will depend mainly on the amount of your cover (usually linked to a percentage of your income) the deferred period and the term (length) of the policy you want.