Protect one of your biggest assets -your income
From rent or mortgage repayments to food and regular bills, school fees, day to day expenses, and those unexpected costs we rely on our incomes to cover some of the most important costs in our lives. A vital asset worth protecting, income protection can help you continue to cover these expenses if you’re unable to work due to sickness or injury.
The IPS Group offers a full spectrum of financial services for individuals, small to medium businesses, and large corporations.
What We Do
From business insurance protection to complex wealth-creation strategies to smarter financial management.
Pillars of Success
A unique drive and dedication to provide financial services in action, whether you require Insuring or Financial Planning.
Life is unpredictable. How long could you sustain your lifestyle if a sickness or injury prevented you from working?
Income protection can pay you a monthly benefit of up to 70% of your income if you are unable to work due to illness or injury, ensuring that you and your family can manage financially. The benefit paid can be used for any purpose, such as living expenses, rent or home loan repayments, and other living costs. It's all about taking the financial pressure off so you can focus on getting back on your feet. An IPS Group life insurance adviser will help you find the best income protection solution for you and your family.
Why should you consider it?
Regardless of whether you have any dependents, income protection can be crucial for those who are the only wage earners. If you do have dependents, having them lessens the financial strain you might otherwise experience if you got sick or hurt and couldn't work.
Even if you are unable to work, having this financial protection in place can help you and your loved ones retain the standard of living you have worked so hard to attain.
What does this Insurance cover?
Income protection usually replaces up to 70% of your lost income if you can't work because of an injury, illness, or accident for a certain amount of time. The person must be unable to work because of an illness, accident, or injury for longer than the policy's waiting period (learn more about waiting periods in the next question). It's important to know that some illnesses and injuries may not be covered by income protection even though they are covered by other policies. These can include pre-existing conditions, pregnancy and childbirth, and injuries or illnesses caused by intentional, criminal, or self-inflicted acts, alcohol or drugs, sports, or motorsports.
What's not covered
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:
- Drug and alcohol-related sickness or injury
- Unadvised overseas travel
- Criminal activity or lawfully detained
Call us today to assess Income Protection Insurance options
If you choose us as your insurance brokers, we'll put our years of experience, in-depth knowledge of the industry, and helpful service to work for you to make sure your home, investment property, or portfolio is well protected in case something unexpected happens. No matter what criteria you give, we will research the market to find the homeowner's insurance policy and personal property coverage that fits your needs.