Protecting yourself from sickness and injury – so you can keep on earning a living.

We help people living with well-managed HIV or diabetes get complete Income Protection cover

Previously, people with complex health needs were excluded from high-quality Income Protection - now that's changed for our clients.

• Income Protection is an insurance cover for one of the most important assets of all – your ability to continue to keep on earning a living.

Explaining Income Protection

Income Protection insurance as the name suggests is designed to protect your ability to continue to earn an income and pay up to 75% of your income if you're unable to work due to sickness or injury. It can provide cover world wide 24/7 and can even protect 100% of your employer's super contributions too.

• The waiting period is the number of days before the income benefit payments start. It can be as short as 14 days and can be as long as 12 months (or more), whatever you choose.
• The benefit period is the length of time you’ll receive payments while you’re unable to work due to sickness or injury. These can often be for set periods of 2 years or more, even up to age 65 (and now in some cases age 70), depending on what you choose.
• The payment method is the way you agree to pay the insurance premiums. These can be from your personal funds, perhaps from your super fund or even a combination of both, depending upon whatever you choose.

There are so many different options available with Income Protection.

Your financial advisor from unusual risks is the expert to best help you understand your options and cut through what can often feel an overwhelming process to find your unique solution.

Practically speaking - always protect what you cannot afford to loose

Case Study

Meet Leanne and Jenni: corporate professionals who, like most Australians, rely upon their weekly wages to maintain their lifestyle.

Leanne had a back injury that over time deteriorated into a herniated disk in her lower back and she needed to claim upon her income protection insurance.

This is how Leanne's income protection was useful in three different ways;

• While needing to part time with reduced hours due to the injury, her income protection insurance helped cover the part time loss of wages.
• A year later when the doctors decided a surgical solution and Leanne was unable to work at all her income protection helped cover the full-time loss of wages while surgery, recovery, and rehabilitation occurred.
• After successful surgery and rehabilitation, Leanne returned to work, initially part-time. Her income protection insurance again helped cover the part time loss of wages until she was able to full return to work and continue her normal job. At that point, her income protection stopped and life returned to a new type of normal.

Having access to flexible income protection, Leanne was able to take time off work as she needed and have her income continue to meet her mortgage, car loans, manage credit cards and plan a way through with financial certainty.

In an unrelated incident the following year while cleaning a blocked gutter in the rain, while standing on a wheelie bin, Leanne slipped and broke her leg and was off work again - and her income protection commenced again as it was needed.

Why you may need income protection

The financial engine of our lifestyles is our continuing ability to earn our incomes.

Over the course of a lifetime, most people will earn a small fortune (and rely upon their super contributions for their ability to eventually retire).

Protecting your ability to continue to earn an income makes clear financial sense.

It’s especially relevant for:

• Single people who might not have strong family or relationship support
• People in relationships depending upon dual incomes
• People with ongoing debts, like a mortgage, rent, credit cards and personal loans that couldn't be paid if they were unable to work due to sickness or injury.
• People who have regular family expenses like food, household bills, council rates or strata fees, school fees, vehicle costs (and perhaps child support payments or IVF treatment costs) and who don't have immediate access to substantial savings to use to replace their lost income if needed
• People who want an effective backup plan in place if one (or both of their incomes) were to stop due to sickness or injury

A special note for self employed people:

Self employed and business people have different needs and restrictions on their incomes so if that's your situation, relax, the professionals behind/from Unusual Risks Insured can talk you through your special options too.

Real Life Statistics

• 20% of all mortgage defaults in Australia are ‘due to illness or accident in household' ^{Mortgage default in Australia: nature, causes and social and economic Impacts, Australian Housing and Urban Research Institute, March 2010}