56 Rundle Street

Mount Louisa QLD 4814

Mon - Fri 9:00 - 5:30

Business Hours

07 4774 5732

0423 770 088

Income Protection

Insurance

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?
What are the odds of being without your income? You have a more than 60% chance of being disabled for more than 1 month during your working life and a 1 in 3 chance of being disabled for more than 3 months1.

Notable Finding:

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
  • Injury
  • Redundancy (depending on the policy)
At OnTrack Wealth, we believe that for young and growing families, this is probably your most important insurance. Also, anyone with a mortgage that depends on your earning capacity needs to protect their income. And relying on Industry Super Insurance may give you false security. It may only pay you a benefit for two years, and not up to age 70.

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 ….
And that is why you need a Financial Advisor to help you along the way. Talk to us at OnTrack Wealth for obligation free discussions.
1 The Risk Store Claims Statistics, 2014 www.zurich.com.au