Income Protection

Income Protection provides a regular income if you're unable to work due to illness or injury. It helps cover living expenses, ensuring financial stability during recovery.

What is Income Protection?

Income protection insurance ensures that you receive a portion of your income if you become ill, injured, or disabled, and are unable to work. This helps you cover essential living expenses and ensures financial stability until you’re able to return to work.

*Income protection is essential for those who are self-employed, have minimal savings, or want to ensure long-term financial security in the event of unforeseen circumstances.

Two Key Terms

Deferred Period

The deferred period is the waiting time between when you stop working due to illness or injury and when you start receiving benefit payments. It acts as a safety mechanism to prevent abuse and ensures that the policy is used for serious or long-term conditions.

Deferred periods can range from a few weeks to several months, depending on the policy. A longer deferred period typically lowers your premium but means you’ll rely on savings or other financial resources during

Claim Periods

Claim periods determine how long you can receive benefit payments once you become eligible due to illness, injury, or disability. The options typically include:

  • 12-month claim period
  • 24-month claim period
  • Full claim period (indefinite until policy expiry)For shorter claim periods, you may be able to claim again after a 6-month gap, or sooner if it’s for a different condition.

How do I pay for my Income Protection?

Find the perfect payment option for your Income Protection with our two convenient methods. Make managing your Income Protection policy a breeze and ensure you never miss a payment. Keep your coverage active and your loved ones protected.

Monthly

Paying monthly for Income Protection can be advantageous as it provides a more manageable payment schedule, ensuring coverage remains active. It also allows for greater flexibility in budgeting and can be more convenient for many individuals to align with their monthly income and expenses.

Annually

Paying annually for Income Protection can often lead to cost savings compared to monthly payments. By opting for an annual payments, you may find the payments provide convenience and peace of mind, with fewer payment transactions to manage each year.

Get an In Indicative Quote

Get an indicative quote for Life Insurance gives you an estimate of what your premiums might be based on basic information you provide, such as your age, health, lifestyle, and coverage amount.

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