Protect Your Income Even When You Can't Work

How Income Protection Works

Typically, income protection policies cover up to 70% of your pre-tax income. The payouts begin after a pre-defined waiting period, which can range from a few weeks to several months, depending on the policy you choose. The benefit period, or the length of time you'll receive payments, can also vary, with some policies offering coverage for a few years and others extending until retirement age.

When selecting a policy, it's essential to consider the waiting period and benefit period that best suit your financial needs. Shorter waiting periods and longer benefit periods generally result in higher premiums. Therefore, it's crucial to balance these factors to ensure affordability while maximizing coverage.