Income Protection Insurance

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Income Protection



Income Protection

Income Protection pays a benefit to life insured which can replace up to 75% of their salary while they are unable to work due to injury or illness. On top of replacing 75% of the salary, life insured can also seek to protect up to approximately 75% of the Superannuation Contributions.

Income Protection is an ongoing payment rather than a lump sum. Aside from the amount of insurance, insured person can also choose the following:

* Waiting Period – This can be: 14 days, 30 days, 60 days, 90 days, six months, one year and two years. Shorter waiting period will attract higher premiums. Vice-versa longer waiting period will reduce the cost of the insurance.

* Benefit Period – This can be: 2-year benefit, five-year benefit, to age 60, to age 65 and to age 70. Longer benefits period will attract higher premiums. Vice-versa shorter waiting times will reduce the cost of the insurance.

Most insurers will offer 2 or 3 different types and/or levels of income protection. E.g. Basic, Comprehensive, Diamond. These products will bundle some of the extra options available and include it in the offering. In addition to that, income protection policy can also can be “agreed value” or “indemnity.”



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VFS Group is a holistic financial services firm with an acute focus on wealth creation and management. Our mandate is to provide quality financial advice to all Australians.

Our mantra is Knowledge, Opportunity, Wealth. We invite you take this opportunity to secure your future with us.



Danilo is a highly experienced senior financial adviser with an extensive background in developing comprehensive financial strategies for clients.