Latest News
Any company that is forced to a retrench key employee because of off-the-job injuries or long-term illness is taking risks with their long-term viability.
So, what happens when one of your valued employees is either suddenly injured (on or off the job) or becomes ill and has to take extended time off work to recover?...
Income protection insurance is an insurance policy that agrees to pay you a set amount of your income if you are unable to work due to illness or injury.
There are a few different types of income protection insurance. Individual income protection insurance is insurance that you take out privately. Group income protection insurance is insurance that is normally taken out by employers to cover a group of employees or professionals. ...
There are a few different factors to consider when purchasing Income Protection Insurance – your health, age, occupation, your income and features like waiting and benefit periods.
The waiting period is how long you will have to wait from the time you are unable to earn an income, to the time the income protection payments start. If you choose a longer waiting period it can reduce your premium....
Income Protection Insurance offers so much. In addition to dealing with all those What If and unexpected events, income protection could also help reduce the amount of tax you pay.
If you can prove that your income protection insurance premium relates to the earning of assessable income, you can claim the premium as a tax deduction....