Insurance Articles
Income Protection Insurance
Posted by admin - 24/04/09 at 04:04:50 pmEarlier this week we published advice for your Home and Contents Insurance. Today is Income Protection:
This protects your biggest asset – your ability to earn an income – by paying up to 75 per cent of your wage in the event you are unable to work because of illness or disability.
Statewide Superannuation Trust general manager strategy and business development Bill Watson said doing away with income protection cover because times were tough “could be a false economy”.
“For the sake of a few dollars a week you could be left without an income in the event you are unable to work”, he said.
Ms French said income protection cover was a “priority personal finance strategy”.
“We’ve found referrals and inquiries for income protection insurance have grown significantly since the economic conditions have tightened,” she said.
“Some people have seen their other assets fall in value in recent months and want to build their financial back-ups”.
Source: www.adelaidenow.com.au 19 April 2009
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