The lookback period to calculate your income protection benefit set to drop from years to months
13 August 2021
Most comprehensive income protection policies available in market today can lookback at your best 12 months of earnings over the previous two to three years. But after 1 October 2021, the assessment of income prior to the date of disability is likely to become more restrictive, potentially only 12 months.
With the impact of COVID-19 restrictions during the past 18 months and loss of income that has occurred for many workers and business owners, this change could have major implications. Risk Insurance Partner, Paul Milbourne, discusses why.
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.