People are adamant in ensuring that their homes and cars are insured in the event disaster strikes, but do we stop and think about what the greatest asset in our lives actually is. In a monetary sense, your ability to earn an income is the single biggest asset you have, from the time we begin working to the age of 65 we may have 45 odd years in the work force and potential to amass an income upwards of 3 million dependant on the line of work.
Did you know?77 per cent of Australians have had a disease or other health problem that had lasted, or was expected to last, 6 months or more1.Nearly 10 per cent of Australian full-time workers leave work due to chronic illness2. Have you stopped to think of what may occur shall your income stop all of sudden? How long could you cope financially? Would you be able to upkeep your bills and or debts? This can be an accumulative effect and it may not be too long before things get out of hand.Having the right cover may be difference between losing everything that you have worked for and maintaining your household or business whilst you are out of work. Leave the worry aside and give yourself time to focus on recovering.In the event of an accident or illness that prevents you from working for a prolonged period of time, income protection can pay you up to 80% of your pre-sickness/injury income if you can’t work due to sickness and injury. Furthermore, premiums for income protection are tax deductible against your assessable income.At Del Castillo Investments Corp Pty Ltd, we will endeavour to find you the best income protection insurance to compliment your individual needs. Many factors will be considered such as the ‘waiting period’ after disability occurs before income protection cover commences and the ‘benefit period’ or length of time for which payments are to be made. A tailored solution will ensure a balance of cost versus benefit, our priority is to ensure that your insurance works as you expect when you need to call upon it.
Do not leave it until it is too late, get protected today by contacting us, make an investment to protect and safeguard your future and that depend on you.
1 Australian Institute of Health and Welfare – Australia’s Health: The eleventh biennial health report, 2008
2 Australian Institute of Health and Welfare – Chronic disease and participation in work, February 2009