Income Protection

CommInsure

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The Income Care range is closed to new business (except continuation options and replacements). Existing customers can still increase, decrease, add options and obtain replacement policies. They will also continue to receive product improvements to ensure they provide ongoing valuable, contemporary protection.

Note: Existing clients aren’t able to change indemnity Income Care Super to agreed value effective 1 April 2020.

Income protection products include Income Care, Income Care Plus, Income Care Platinum, Income Care Super (within Total Care Plan Super), Essential Cover (for accidents only), Income Protection (within the SMSF Plan) and Business Overheads Cover.

Income protection pays up to 75 per cent of your clients' income when they’re unable to perform all or part of their occupation due to injury or illness.

Business Overheads Cover helps pay your clients business’s regular fixed operating expenses while they’re unable to work.

Income Care, Income Care Plus and Income Care Platinum

Income Care and Income Care Plus is available outside superannuation and provides up to 75 per cent of the insured’s income when they are unable to perform all or part of their occupation.

You should consider income protection if your client:

  • Has dependants
  • Has a mortgage or other debts
  • Would need money to live on if they couldn’t work
  • Doesn’t have sufficient savings to cover unexpected expenses.

 

Income Care Super

Income protection inside Total Care Plan Super covers up to 75 per cent of the insured’s income when they are unable to perform all or part of their occupation.

You should consider income protection if your client:

  • Has dependants
  • Has a mortgage or other debts
  • Would need money to live on if they couldn’t work
  • Doesn’t have sufficient savings to cover unexpected expenses.

 

 

Income protection in SMSF

Income protection inside the SMSF Plan covers up to 75 per cent of the insured’s income when they are unable to perform all or part of their occupation.

You should consider income protection if your client:

  • Has dependants
  • Has a mortgage or other debts
  • Would need money to live on if they couldn’t work again
  • Doesn’t have sufficient savings to cover unexpected expenses.

 

 

Business Overheads Cover

You should consider Business Overheads Cover if your client is self-employed.

Business Overheads Cover is available outside super, it provides up to 100 per cent of the insured’s regular fixed operating expenses of the business while they are unable to work.

 

 

 

 

Essential Cover

Essential Cover is available inside and outside super as well as SMSF, it provides up to 75 per cent of income in the event of an accident and are indemnity contracts.

You should consider Essential Cover if your client:

  • Can’t get standard income protection due to pre-existing illnesses
  • Prefers a cost effective option to meet budget considerations.

 

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