Income Protection Benefit - Information
Our 5 star Defaqto rated Income Protection Benefit Plan is designed to provide the Life Assured with a monthly benefit if they can’t work due to incapacity caused by illness or injury, resulting in a loss of earnings. For housepersons, the benefit pays out if they are unable to perform 3 tasks from the activities list – which can be found in the key features.
The benefit can be used to cover mortgage payments, pay their bills and help maintain their life style.
At the time of a claim, the benefit will be paid after a deferred period which is chosen at outset. The deferred periods available are 4, 13, 26 or 52 weeks. After the chosen deferred period, a monthly benefit will be paid to help towards the client’s monthly expenses.
Benefits automatically included
- Waiver of premium
- Guaranteed Insurability Option
- Hospitalisation benefit
- Proportionate benefit
- Continuous cover
Options
- Permanent and Total Incapacity benefit
- Indexation
- Low cost option
- Stepped benefits
The above benefits and options are subject to terms and conditions.
