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Jimmy Son is an Authorised Representative (No 248965) and Jimmy Son & Associates Pty Ltd T/A Amicus Financial Lifestyle Planning is a Corporate Authorised Representative (No. 248876) of Spark Advisors Australia Pty Ltd (ABN 34 122 486 935, AFSL 380552)
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Income Protection Insurance pays a monthly benefit of up to 75% of your regular before-tax income if you can’t work due to a serious illness or injury.
If you have high levels of debt and you are the main bread winner in the family, then taking out income protection can offer you a much needed safety net. Should you become ill or injured and unable to work, you can relax and focus on your recovery knowing you have ongoing cash flow to meet your mortgage repayments, medical bills and maintain your family’s quality of life.
Income Protection Premiums can be claimed as a tax deduction. There are various factors that affect the premiums. One of them is the different waiting periods before the cover is paid. Premiums reduce as the waiting periods increase from 30, 60, 90, 120 days, 1 year or 2 years. You can select benefit periods from 2 years to age 65.
Trauma insurance is also known as critical illness insurance. It provides a lump sum to meet immediate medical expenses and other expenses when a critical illness or critical injury occurs.
Conditions covered vary from policy to policy, but typically include as standard various cancers, heart disease and/or heart attack and stroke,
For an affordable premium amount you can give yourself and your family a peace of mind.
You can take out TPD insurance to cover the cost of rehabilitation, debt repayments and the future cost of living for yourself and your family.
It is important to understand the definition of TPD covered by your insurer to get the most appropriate cover for your occupation type.
