From 1 October, the amount of income you can protect will be capped

Income protectionRisk Insurance

13 August 2021

Currently, most income protection policies are able to protect 75% of your income as well as things like superannuation. This means many people can protect 80% to 100% of their total income

From 1 October these, the amount of income you can protect will be capped at 90% for the first six months of your claim, with a maximum of 70% for all subsequent periods. It is likely that most policies offered after 1 October 2021 will be even less generous than this.

Risk Insurance Partner, Paul Milbourne, explains why it’s important to act before 1 October to ensure as much of your income is protected as possible.

There’s never been a better time to protect your income. For assistance with establishing or reviewing your income protection policy,contactour insurance experts today.

Author: Paul Milbourne

Paul has over 18 years experience in the financial services industry including running his own business and several years in Asia providing specialised solutions for Australian's living all over the world. Paul helps breaks the complicated in too easy to understand real life scenarios; ensuring his clients are able to make sensible decision on how...