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5 Top Reasons for Income Protection Insurance

  • Amanda Varidel
  • May 21, 2015
  • 1 min read

Australia is one of the most under-insured countries in the developed world. Our "She'll be right" attitude means more than 85% of us couldn't sufficiently support ourselves or our family in the event of illness or injury, increasing stress, forcing asset sales or forgoing health requirements when we need it most. We have no hesitation in insuring our car, yet most of us won't consider insuring our income. So, what are the top 5 reasons:


1. If you cannot work it will replace a portion of your income so you can pay your bills.

2. It can help to pay out of pocket medical expensese.

3. Workers compensation will only cover you for work related accidents, income protection covers you 24/7 worldwide for accidents and sickness.

4. Without an income plan there will be no money to save for retirement.

5. It is fully tax deductible to help ease the cost of the cover.

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Stu Varidel AR 324007 and Your Choice Financial Planning Pty Ltd ABN 80124246877 trading as Heart Financial Advisers CAR 323623 are authorised representatives of Sentry Financial Services Pty Ltd ABN 30 113 531 034 & AFSL 286786.

Warning The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Heart Financial Advisers and Heart Mortgage Services nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.

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