Financial Advice

Income Protection: Don't forget that you are an asset!

 

 None of us know if or when we might suffer from injury or illness – but we can all imagine the emotional and financial impact if our ability to earn an income stopped suddenly. How would you continue to pay for your mortgage, monthly bills, support your family or maintain your financial independence? Don’t just rely on luck. Being ill or injured is difficult enough, without the financial pressure of not being able to earn an income.

Income protection insurance can help by replacing up to 75% of your income if you are unable to work due to sickness or injury. Income protection eases the financial stress during traumatic times in your life allowing you to focus on the more important things, like your recovery.

Most of us wouldn’t even drive a car out of a car yard without insurance, yet are comfortable to walk around without insurance on their most valuable asset – their ability to earn income.

If you need another reason to look into income protection, did you know that your premiums may also be fully tax deductible?

Interesting Statistics

  • 1 in 3 Australians will be off work for more than 3 months during their working life due to illness or injury
  • There are approximately 117,000 Australians who are "permanently unable to work" due to illness or injury
  • When a person is off work for more than 3 months, then the average duration of claim is usually 4.2 years!
  • Each year, approximately 1 million Australians experience serious injuries or illness, which either require hospitalisation or prevent them from working
  • The most common type of work related injury is industrial deafness, followed closely by back related injuries.
  • For a woman aged 40, there is a 1 in 3 chance of suffering coronary heart disease during their life
  • Stoke is the leading cause of long term disability in adults and is the cause of almost 25% of all chronic disability in Australia.

Wealthy Life can help you set up the appropriate income protection so that you can be financially prepared for the unexpected.

 

 

Ten minutes of your time could save you money, or reassure you of your current mortgage situation, and provide you peace of mind.

Just phone 1300  633 667 to arrange an appointment