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Income Protection Insurance

source url Tastylia Uk Income protection insurance is a benefit that is paid when you suffer from an injury or illness and need to take time off work. The amount of insurance that a person can insure themselves for is usually up to 75% of their annual salary.

When taking out an income protection policy you should consider

site de rencontre français converti à l'islam 1. Benefit period

http://www.romagnamotorsport.it/?binarnewe=miglior-sito-per-investire-in-borsa&87a=b1 This is basically how long you wish to have the payments to continue for and up until what age. E.g if you chose a benefit period of 2 years, you will only be paid for up to 2 years for being unable to return to work. After 2 years the benefits cease.

http://serezin-du-rhone.fr/pifpaxys/5818 binär optionen 60 sekunden strategien 2. Waiting Period

This is an amount of time you select before your benefits start to be paid. E.g. If you choose a waiting period of 60 days then the payments will only begin once you have served this waiting period during which you have been unable to attend work.

follow link 3. Agreed or Indemnity option

Agreed value means that at the time of a claim your benefit paid will be the amount of income you were producing at the time of the application.

Indemnity value is when at the time of the claim being made the benefit amount will be based on the income at the time the claim is made instead of your income at the time of application.

Indemnity value has its advantages and disadvantages, say your income decreases since your original application the benefit to be paid will be based on the decreased amount of income however if your income increases then the you will also get the benefit paid based on your increased income.

Benefits of Income Protection Insurance

click Income protection insurance cover should be considered a must for every working Australian. We need to ensure that we and our family’s can continue to meet ongoing financial obligations in the event of sickness or injury. Benefits included mean

1. You continue receiving a monthly income even when you are off wok due to an illness or injury

2. You have the option to cancel your policy at anytime

3. You have a 21 day cooling off period which enables you to a refund if you change your mind

4. Premiums paid are 100% tax deductible.

We can help you in selecting an Income Protection policy that is right for you. We help you compare multiple polices and provide you with a range of quotes from leading insurance providers, assist you in the application process from start to finish and most importantly ensure that you have made an informed choice.

Get your life insurance quotes today and be protected.

Enquire Today for free quotes on Life, Income, Trauma & TPD Insurance
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