People spend a lot of money on insuring assets such as cars, home contents etc etc. During this process people forget that their ability to work and receive income is actually they biggest asset!
Income protection is designed to give you the peace of mind should anything happen unexpected and prevent you from working. It will provide a monthly benefit of 75% of your annual income to help assist you paying the bills and maintaining your current lifestyle without effecting your financial goals.
Benefits can be paid until you reach age 65, should you be unable to work during that time and most insurance companies will also provide rehabilitation programs to assist you getting back to work quicker.
This can be structured inside your superannuation fund, which means you can get this type of cover without it effecting your immediate cash flow.