Income Protection

Knight Management Services Life Insurance & Wealth Manager offer you income protection insurance in Perth. Our financial planners will assess your needs and provide you with the right advice at the cheapest possible price. Knight Management Services is aligned with all major Life Insurance companies and we compare the cover and pricing with each of them on your behalf.

What is Income Protection?

On an average Income Protection policy will include cover up to 75 % (some policies can offer higher) of your salary for an agreed benefit period if you are temporarily unable to work because of sickness or injury. The benefit period can be set on an agreed limit, this usually varies between 2 Years all the way up 70 Years where possible. Should there be a claimable event you will continue to receive 75 per cent of your income until you return to work or to the end of the benefit period.

What options do I have with Income Protection Insurance

Different life insurance companies will offer a range of options. The most common options you will see available are as follows:

• Agreed value policy or indemnity policy
• Benefit Period
• Waiting Period

How much will Income Protection cost me?

Income protection insurance is rated on many different factors, some of these will cause the insurer to load your premium pending your answer. For your convenience the main underwriting rating factors are listed below:

• Your Age
• Male or Female (rates for females are higher than males).
• If you are a smoker (Rates are higher for smokers)
• Occupation (manual based work attracts higher premiums than office work).
• Waiting period – The period you choose to wait before a claim can be activated.
• Benefit period – The period you will receive payments in the event of a claim.
• Agreed or Indemnity policy.
• Minimum working requirements
• Additional benefits you may discuss or choose to elect after discussions

Alternative names for Income Protection

Income Protection Insurance is also known as Income Insurance or Disability Income Insurance. This should not be mistaken for salary continuance insurance that is offered through superannuation.

Contact us today

Enquire about our comprehensive Life Insurance and Income Protection. , you can contact us today to discuss your details further with our Knight Management Services.
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