Your biggest asset is not your home, or your car - It's your ability to earn an income.
- What’s the value of your income this year?
- Over the next 5 years?
- Over your entire working life?
- How much do you rely on your income?
38% of working Australians believe they could survive without an income for less than one month before needing assets to survive1. And it’s not just life threatening injuries or illnesses – consider broken bones, glandular fever, infections ……
Income protection replaces up to 75% (some policies 85%) of your income if you’re unable to work due to the following:
- Serious illness
- Redundancy (depending on the policy)
Can’t afford it? Well, there are many options available:-
- Extend your wait period – 14 days to 2 Years are available
- Reduce your payment benefit period – 2 Years up to age 70 are available
- Reduce event options and stick with the obvious – heart attacks, cancers, …?
- Pay inside or outside super
- Look at different premium options – stepped, level, true level ….
1 The Risk Store Claims Statistics, 2014 www.zurich.com.au