Jemima is a vet, married with two children. Jemima and her husband have a significant mortgage and other expenses to pay. During 2015, Jemima's financial adviser recommended that she take out Income Care Platinum cover as part of her financial plan.
When Jemima's adviser explained that her premiums were tax deductible*, she decided to take out the recommended insurance.
Two years later, Jemima was totally disabled and met the definition in the CommInsure Protection Product Disclosure Statement (PDS). But thanks to her monthly Income Care Platinum payments, she was able to continue paying her mortgage, as well as covering her car loan repayments, her children's school fees and the cost of a house cleaner.
*CommInsure is not a registered tax (financial) adviser under the Tax Agent Services Act 2009 and you should seek tax advice from a registered tax agent or a registered tax (financial) adviser if you intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.
The examples used are for illustrative purposes only.