Choosing Income Insurance with Choosi
What is Income Protection Insurance?
Income protection cover is a way of protecting the financial security of your family when you’re unable to work. With an income protection insurance policy, you can receive monthly benefits to replace your income so you don’t face dire financial pressure at an already difficult time.
How Does Income Insurance Work?
You can tailor income protection insurance to suit your needs by selecting the level of protection that you require. You can choose your waiting period (30 or 90 days) and even select how long you receive your income insurance benefits for: six months, a year, two years or five years. Optional Rehabilitation benefits can also help you get back to work faster.
The premium is paid either fortnightly or monthly to your income insurance provider, and if you’re unable to work for an extended period due to sickness or injury, you could receive up to 75% of your pre-Tax income up to $10,000 a month. This can help with the costs of your recovery as well as covering day to day bills.
What if I’m self-employed or only work part time?
You can apply for income protection insurance if you’ve been self-employed or working at least 20 hours per week for at least 12 months before starting your policy.
A number of policies available through this site do not require medical or blood tests to apply. All Australian residents aged between 18 and 59 can apply and can generally deduct their premiums from their tax.
Protect your income by comparing income insurance policies today with Choosi.