Mortgage brokers & financial services provider 
What it does - This type of policy pays a monthly income tax-free if you are unable to work due to an illness or injury.  
How it works - The monthly income under the policy will be between 50 and 70 per cent of your salary and will be paid until you are fit enough to return to work or reach retirement age. 
What you need to know - State benefits aren’t generous and only a few employers will continue to support their staff through a long illness, so income protection policies can help families through difficult financial times. You can choose the date at which the policy would payout in the event of a claim. This can range from a month to up to a year. Policies that payout sooner will have higher premiums. 
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