Income Protection Insurance
Your most valuable asset is your ability to work and produce an income so protecting this asset should be a priority. Ruralco Life Insurance can help you do this by sourcing tailored Income Protection cover to meet your financial obligations if you are unable to work through sickness or injury.
There’s a great range of options available with Income Protection Insurance. You can nominate the waiting period for how long you must be unable to work before your benefit is paid. Variables range from 14, 30, 60 and 90 days, 6, 12 and 24 months. Your policy can even be tailored to cover you once any accumulated sick and/or long service leave are used.
You can nominate the benefit period — it can be for a certain period of time or until you reach a specific age. Policies can either be Agreed Value or Indemnity which can affect the level of your income protection and the premium.
With so many variables, getting advice from an expert is important so talk to Ruralco Life Insurance today.
Case study
Doug managed a rural business in the New England ranges. Whilst walking through a paddock he slipped and broke his ankle. The doctor certified that he would be unable to work for 3 months. Doug was lucky and had 4 weeks of sick leave owing. Because Doug had a 4 week waiting period on his Income Protection policy, the insurance company will pay him up to 75% of his wages after his sick leave stops. This will enable him to continue to pay his mortgage and deal with his usual daily expenses.
Entry age: generally 19-64
Expiry age: generally 65 and, in some, cases 70
General advice warning: This document may contain general advice and your personal objectives, needs, or financial situation have not been taken into account. You should consider the appropriateness of any general advice received having regard to your own objectives, financial situation and needs before acting on it. Ruralco Holdings Limited trades as Ruralco Life Insurance and refers clients to KNM Services Pty Limited ABN 62 094 109 958 AFS Licence 223477 for advice and dealing services in life insurance and superannuation products.
Email enquiries@ruralcoinsurance.com.au
