You are currently viewing Spotlight on Income Protection Insurance

Spotlight on Income Protection Insurance

For most people, going to an insurance broker is a little like going to the dentist; you know it’s good for you, but it’s still something you’ll put off until you feel like you really need it.

The thing about both dentistry and insurance, though, is that a reactive approach really doesn’t work as well as a proactive one. In an ideal world, whenever a tooth fell out, you would stroll down to the dentist and have it popped back in. In that same ideal world, a conversation with your insurance broker about income protection insurance would go something like this.

Insurance broker: Good morning mate, you’re looking remarkably well today.

Customer: Oh, I am, thanks for noticing! Sadly, it’s not going to last. You see, next week I’m going to pull a hamstring during footy training.

Insurance broker: That’s no good, no good at all. A hamstring, you say?

Customer: Yes, in the left leg, resulting from a freak slip just as I’m turning to pass the ball to one of my teammates. I’ll be off work for at least a month, and as I’m self-employed, that will mean quite a blow to the old hip pocket.

Insurance broker: Well, I’m sorry to hear that. I imagine you’ll be needing some income protection insurance?

Jokes aside, you get the picture: no one plans to get sick or injured, it just happens. And you don’t need to be a rally car driver or a rockstar to find yourself out of action for months at a time.

Perceptions Vs. Reality

While it’s true that Australians enjoy access to healthcare and social security systems that other countries can only dream of, recent studies show that, as a nation, we have a skewed perception of ourselves as “bulletproof”.

This perception has led to a lack of interest among Australians in purchasing insurance, assuming their costs will be covered by the existing infrastructure. But in most cases, especially when it comes to serious or long-term illness, there will be a gap between what is covered by medicare and the actual medical expenses. One study found that 14% of adults did not receive the recommended medical care for their condition due to costs. For Australians living with chronic health conditions, that figure jumped to 24%.

What Income Protection Insurance Can Offer 

Income protection insurance pays part of your income – up to 85% – if you find yourself temporarily unable to work due to an injury or illness. This kind of insurance might be particularly attractive to someone who supports a partner or children, or someone who will not be able to rely on sick leave from work. The money from income protection insurance can be used to cover living costs for you and your loved ones, like groceries, bills, mortgages, and other debts that can’t be put on hold.

Leave the Details to Us

You can’t plan for every eventuality, but with Tony Insurance, you can be prepared. You don’t need to be an insurance expert to get the best value cover, you just need to remember one simple formula: Think insurance, think Tony.

Contact Tony Today

I only have one phone number, the same number my wife and mates call me on. With me, you know you’re getting a service that’s personal as well as professional. Call me on 0433227711 or book an appointment through my website.

Leave a Reply