Your future earning ability is your most important asset. Income protection insurance is an essential tool to partially replace your income in the event of serious illness or injury that renders you unable to work, and annual premiums are tax-deductible.
It is important to be aware that there are sweeping changes to income protection policies, some of which are already in place and some that come into effect in October 2021. The changes are a result of the insurance regulator (APRA), intervening in the industry to address substantial losses on these policies.
Please click below to see the major changes being made to income protection insurance
If you have any questions, or would like to know more about any of the topics, please call us on 02 9580 3353