22 Nov A tradespersonâ€™s best back-up tool is insurance
A tradespersonâ€™s best back-up tool is insurance
Have you given any thought to protecting your income? Â
Statistics show that tradespeople are three times more likely to suffer work-related injuries than any other occupation. Â Heart disease is also the number one cause of death in Australia, followed by stroke and Â cancer. How are you protecting your income?
With figures like these itâ€™s important, that as a trades person, you have cover that takes into consideration the work you do, the unique risks you face, plus other medical factors that affect all Australians.
You need a plan that covers you, your income and your debtsÂ
Workers compensation may not be enough Â If something happens to you at work, workers compensation helps part of the way, but you could be waiting a long time and it only covers some of your expenses.
What if something happens outside work or you suffer heart disease or cancer? Â When your income stops, you donâ€™t want to worry about your loan repayments, bill’s and everyday expenses.
Thatâ€™s why you need life insurance
Life insurance goes to work where workers compensation leaves off. Â It includes :
- life cover,
- income protection cover,
- total and permanent disability (TPD) cover, and
- trauma cover.
It can also cover you if you have minor fractures and still keep working.
Benefits of insurance and protecting your income:
- Youâ€™ll receive the rehabilitation you need to be able to return to work.
- If youâ€™re self-employed and need to keep an eye on your business, or work for someone else and wish to return to work, some policies allow you to work 10 hours a week while still receiving benefits.
- If you canâ€™t afford comprehensive cover, you can cover yourself for accidental injury only. Considering the majority of claims are due to accidents, itâ€™s a pretty sensible option.
- Trauma cover not only provides benefits for things like coma, intensive care, loss of limb or sight, major head trauma, paralysis and severe burns. It also covers you for the early signs of a heart attack, melanoma or cancers.
Income protection can often be dismissed as a luxury, however in times of need, itâ€™s almost crucial should something untoward happen that prevents you from earning an income. Â We can certainly take you through the benefits ofÂ protecting your incomeÂ – get in touch today.