Strategic Financial Management Solutions
Income Protection, Income Protection Insurance
Depending on your cashflow position, Strategic Wealth can arrange this cover via super or externally. Income Protection should include a long-term benefit payment period ‘till age 65’ to ensure the policy will pay for the maximum period in the case of a long-term claim. It must also include superannuation in the income benefit payable so that ongoing superannuation contributions may continue while on claim to ensure a comfortable retirement is available. Income Protection should also consider a ‘Level’ premium structure to ensure the insurance premium remains constant over time – the longer the time left to work, the more viable the Level premium structure. The waiting period should be appropriate (generally 30 or 90 days) and is dependent on the accrued sick leave, annual leave and savings available.
, Income Protection Insurance
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