Income
Protection
Income Protection safeguards your income when you are unable to work.
Income Protection with Futurisk
Benefits of Income Protection Insurance
Worldwide Cover
Recurrent Disability Benefit
Vocational Training Benefit
Home Modification of Equipment Support
Bed Confinement
Waiver of Premiums
Suspension of Cover Benefit
Future Insurability Benefit
If you are made redundant, you’ll be covered with monthly payments for up to six months.
What can it cover?
Income protection can provide you with a regular monthly payment if you are unable to work due to sickness or injury.
Why Income Protection?
After your health, your ability to earn an income is one of your most valuable assets. If your health were to suffer a setback, your finances and lifestyle shouldn’t have to.
Types of Insurance
Agreed Value: This type of cover provides an agreed monthly benefit based on a proportion of your income (before tax) disclosed at time of application. This means that you don’t need to supply proof of pre-disability income at claim time in order to receive a benefit
Indemnity: This type of cover pays monthly benefit based on a proportion of your pre-disability income (before tax) at claim time. The benefit is paid up to a specified selected at the time of application. This means that you need to supply proof of pre-disability income when you lodge a claim.
Loss of Earnings: This type of cover offers you the flexibility to chose either an Agreed Value or Indemnity Benefit. At claim time, you have the option to receive an Agreed Value Benefit or you can elect to provide evidence of your pre-disability income in order to receive a potentially higher benefit.
What should I know?
Offsets
Depending on what type of income protection policy you have, some offsets may be applied. Please refer to your policy wordings for further information.
Waiting periods
Benefit Payment Periods
You can select the amount of time you receive payments. Selecting a shorter benefit payment period can decrease your premiums. We can offer from 1- 5 year payment periods with options for your policy to end at the ages 65 or 70 years old.