Income Protection Insurance How Much Does It Cost

In the table below we ve highlighted how much income protection would cost for a manual worker a plumber and an office worker an accountant of three different ages.

Income protection insurance how much does it cost. Get a quote box one half last. The australian taxation office ato says you can claim the cost of insurance for loss of income on your tax return. Get a free income protection quote. Male aged 30 around 30pm for 1 500 a month cover deferred for 4 weeks payable to age 65.

The percentage of your income you cover. Income protection can be quite flexible and the options you select will impact the premiums payable for example. The cost of income protection can vary considerably depending on your age health occupation smoker status sum assured and all of the other factors discussed above. Choosing a longer deferred period reduces the cost of your cover.

In summarised form and no particular semblance of order the following are universally considered to be chief amongst the factors that determine the cost of income protection insurance premiums. The length of time you wish to be covered. How much does protection insurance cost. It should not be regarded as a substitute for advice from a financial broker.

Income protection cost how much does income protection cost. Depending on your circumstances your lifestyle earnings whether you have a family protection insurance can provide an income should you become unable to work through accident or illness. Our income protection calculator will help you decide how much of your income you need to protect.