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Income Protection Insurance in Australia

Ensuring Your Financial Stability in Uncertain Times In our constantly changing world, we can face unexpected events that can disrupt our daily routines and financial plans. These can range from unforeseen medical emergencies to sudden economic downturns, often occurring without warning. To navigate these unexpected challenges confidently, investing in financial protection measures like income protection is…

The Best Income Protection Insurance in Australia: 2023 Guide

Is your most important asset protected if you can’t work due to an illness or injury? Income protection insurance pays a monthly benefit, generally up to 70% of your pre-disability income, if you’re unable to work due to an illness or injury as specified in your insurer’s PDS. Usually, the best income protection insurance for you has features and benefits suited to your requirements.

Income Protection for Self Employed Australians

When working for yourself as a sole trader or small business owner, you are responsible for the failure and success of your business. If you were to get sick or injured, you’d have no holiday or sick leave to help with your month-to-month expenses, which can be even more stressful if you’ve got a family to support.

Insurance for Homemakers with No Income

There’s a myth that only the breadwinner of the house needs life insurance. But what if the stay-at-home spouse were to pass away or become seriously ill or injured?

TPD vs Income Protection: Which One Should You Choose

Not being able to return to work because of an accident or illness could have devastating consequences. While sick leave and workers compensation might provide some relief, Total and Permanent Disability cover and income protection insurance will generally alleviate most of your financial burden.

Is Income Protecting Tax Deductible in Australia?

Income protection insurance premiums in Australia are generally tax deductible when held outside of your super fund. The amount you can claim depends on your assessable income and your marginal tax rate. If you take this after-tax deduction into account, your income protection cost might be significantly less than the original premium you paid.

Income Protection for Doctors & Medical Professionals

Medical professionals are frequently exposed to many unique risks within their profession. If you were injured or diagnosed with a disease, your ability to earn an income in your current job would be severely affected. You might not be able to continue in the occupation you’ve spent nearly half your life establishing.