Income Protection
The need for income protection insurance
How would you survive if you had to retire early due to ill health or injury ?
- Could you continue repayments on your mortgage ?
- What about other debts, such as credit cards or personal loans ?
- How would you pay the bills - electricity, gas, food, telephone and so on ?
- What about additional expenses you may inur - such as medical costs, housekeeping, child care ?
- If you had your own business, could you keep it operational ?
Have you insured your most valuable asset ?
Asset Risk Factor
Your House 1 in 7
Your Car 1 in 69
Your Income 1 in 7
Could you afford to maintain your mortgage and/or car loan repayments if you had no income ?
Statistics show your income is as much at risk as your house.
So why haven't you insured your most valuable asset ?
Sources
Chance of customer suffering loss or damage to their home building or contents ( excluding storm damage).
Source: Suncorp Metway Actuarial Monitoring System ( October 2001 )
Chance of suffering damage ( metropolitan area ).
Source: Suncorp Metway Actuarial Monitoring System ( October 2001 )
Based on male insured life with occupational class SP ( white collar ) using;
- Disability and mortality rates from age 35 to 65.
- Source: Institute od Actuaries, Report for the Disability Committee and the
- Australian Life Tables 1997
