Imagine how different you and your family’s life would be without your income. Home and car loan repayments, day-to-day household expenses, children’s school fees and the occasional treat or trip are just some of the expenditure that depends on your ability to earn an income. This asset should not be taken for granted. Here, we collate our top three benefits of securing income protection TODAY.

1. Maintain an income stream in the face of misfortune

Planning for the unexpected could help save you, and those you love, from financial hardship. If accident or illness renders you unable to earn an income, an appropriately structured income protection policy may substitute up to 75% of your income. This financial benefit is designed to help you meet ongoing living expenses, some of which are outlined above, during your recovery.

2. Tax deductible premiums

If you secure your income protection policy prior to 30 June you may be eligible to take advantage of a tax deduction on your insurance premiums when you lodge your return. Wealth Fundamentals is well placed to help guide your decision making around an appropriate strategy for your set of circumstances.

3. Tailored insurance solutions to suit your situation

Over and beyond searching for affordable premiums, Wealth Fundamentals is equipped to help you navigate the complexities of underwriting and other policy terms and conditions.

This skill set helps guide you towards a customised solution designed to help guard against paying for inclusions and benefits you don’t need as well as identifying those you do need. Please contact us on (07) 3720 1299 for more information about income protection.

- By Matthew Lane