How would you cope if you were sick or injured and were forced out of work for an extended period of time?? As work life is getting more and more hectic and mortgages are getting more and more expensive, many people are now considering the benefits of income protection insurance. The concept is that if you're for some reason not able to work because of injury or ill health, Income Insurance protection will pay a portion of your wage.
There are various different covers available, that provide protection at a number of levels. Life Insurance Policy coverage along with Income Protection are choices that now become more appealing in the current marketplace.
Make sure you read your policy carefully. According to ASIC, "In 60% of cases involving disputes over unpaid claims during 1999, consumers did not have the insurance they thought they did." For further information visit http://www.asic.gov.au/fido/fido.nsf/byHeadline/Choosing%20a%20policy%20-%20income.
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