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, contact our insurance experts today.