Income Protection

You're a tradie. You don't buy cheap tools, because you know that if your tools don't work, neither do you. And if you don't work, you don't make money.

But what if something went wrong with you? What if you couldn't work due to an injury or illness? In most cases, you'll be stuck at home with no income.

Or you could simply take out an income protection policy. Income protection is a must for all tradies, and on many worksites it is mandatory to have such cover.

Do you want to get covered with the least amount of hassle and stuffing around? Do you want someone who can come to your home or workplace, rather than expecting you to take time off work to visit their city office?

Call us today on 1800 744 482 or get a free online quote

A popular option for many tradies who take out income protection is "day 1 accident cover". This option can be added to most income protection policies available in Australia.

Day 1 accident cover means that, in the event of an accident, you can be paid the benefits from your income protection policy from day 1. However, there are some big differences between the policies offered by the insurance companies.

With one of the cheaper policies currently available, even if you have the "day 1 accident cover" option you still have to be unable to work for 30 consecutive days before you will receive any benefits. The benefits will then be backdated to day 1.

Another popular policy available, which isn't a great deal more expensive, only requires you to be unable to work for 3 consecutive days before they start paying benefits to you, which are backdated to day 1.

If you can't work and you're not receiving an income, the difference between a policy that pays after 3 days off work will make a huge difference when compared to a policy that requires 30 days of work.

Example: If you sustained a minor injury and were off work for 28 days, the second policy would pay your full benefits for that period, paid after just three days. The first policy wouldn't pay you a cent.

When selecting an income protection policy, it pays to use the services of a qualified professional. As this shows, when two companies offer an option with the same name, it definitely doesn't mean they are equal.

Call us on 1800 744 482 or get yourself a free online quote.

People who are self-employed, particularly in the manual trade professions, should definitely consider income protection insurance.

Most of these claims are related to musculoskeletal injuries.

What is it?

Income Protection.

When does it pay?

When you are unable to work due to injury or illness.

What does it pay?

A monthly benefit, usually equal to 75% of your income.

Who should have it?

Anyone who relies on their income to support themself and their family.

How much is it?

Click here for a free quote

This website is owned and operated by Equita Financial Services Pty Ltd. Equita Financial Services and its advisers are authorised representatives of Synchron - Australian Financial Services Licence Number 243313.

Advice on life insurance products including income protection, life insurance, TPD insurance and trauma insurance is provided under Synchron's licence. We are not authorised to provide personal advice on public liability and tool insurance, however we provide this service through our referral partner, Direct Insurance Brokers Pty Ltd.

Any information on this website should be seen as general advice only, as it does not take into account your personal circumstances. You should not act upon any information on this website without first consulting a qualified financial adviser, such as those employed by Equita Financial Services.