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While life cover will look after your family when you die, income protection insurance, otherwise known as disability insurance can assist while you are alive but incapable of working. It's estimated that you will earn something like $4 million over your working life, so it would be fair to say that your income needs protecting a lot more than your home and your car. This is even more so given that at the age of 35 you are 10 times more likely to be disabled than die. In effect, income insurance protects your ability to earn. Most policies will pay you up to 75 per cent of your net income either for a limited period or until you reach the age of 65. But there are many variations on this insurance, and it is important you understand what is covered by your policy. |
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| Risk Advice | Not sure about the right level of income protection cover? Life insurance advice with commission rebates. more info
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| Zurich Ezicover | Income protection insurance made easy. Get a quote and apply for cover online and in a matter of minutes. more info
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