Income protection
Your income does a lot of heavy lifting.
Income protection can replace part of your income if illness or injury stops you working. It helps you consider how household costs and property commitments would be managed during time away from work.
Insurance advice is provided by Solace Life under its own authorisation and terms. Cover is subject to policy definitions, exclusions and individual circumstances.
When it’s worth a conversation.
- You rely on your salary to meet repayments.
- You are self-employed or have limited paid leave.
- You want to review the cover already in your super.
Look at the whole picture.
Benefits are limited by the policy. Waiting periods, benefit periods, income definitions and offsets all affect how cover works and what it costs.
Understand the time between payments.
The waiting period is the time before a benefit may begin, subject to the policy. Savings, paid leave and other income can affect how you would manage that interval. The benefit period describes how long payments may continue if the claim meets the conditions.
Policies also define income differently and may offset other payments. A percentage on its own does not tell you the amount you would receive. Employment type, occupation and changes in work can affect eligibility and cover, so discuss the details of your circumstances.
Questions to take into the conversation
- How would I meet commitments during the waiting period?
- How is my insured income calculated?
- What changes in work should I tell the insurer about?
Useful things to bring.
- Your income and employment arrangements
- Savings, leave and other sources of support
- Existing policies, waiting periods and benefit periods
What happens next.
Solace Life can help you understand the differences between policies and how the cover fits your income and commitments.
InvestorKit Protect and InvestorKit are not the direct providers of personal insurance advice. Insurance advice is provided by Solace Life under its own authorisation and terms. Cover, exclusions and claims depend on the policy and individual circumstances. Other referral partners may be introduced where appropriate.
Your next step
Let’s start with your plans.
Book a conversation with InvestorKit. We’ll help you connect with Solace Life when you’re ready.