So, you're minding your own business, going about your life, when BAM! You get hit with some unexpected illness or injury.

Income protection insurance is a financial safety net, providing support when life takes an unexpected turn due to illness or injury, and you find yourself unable to work. It ensures that a portion of your income continues to flow during challenging times. One key aspect of income protection insurance to grasp is the waiting period. In this article, we'll delve into waiting periods—what they are, their significance, and how to choose the right one for your needs.

When it comes to life insurance, it's often associated with folks who have partners or kids who rely on them financially. But don't dismiss the idea of safeguarding your financial independence just because you're single. There are situations where singles Down Under should seriously think about getting life insurance.

Does life insurance feel like you're submerged in a sea of options? Well, we're here to throw you a life jacket and make it all easier. We're putting the spotlight on income protection insurance—more specifically, a benefit period up to age 65—as opposed to the 2 or 5-year benefit period your super fund might be offering. We'll explain why we believe a benefit period to age 65 is the bee's knees when it comes to protecting what matters most to you.

Ever thought about what would happen if you got sick and couldn't clock in at work? How would you pay your bills? And let's say it's not just a little flu, but a serious, life-changing illness. Would you be able to cover the medical expenses?

Let's face it, claiming on insurance can be a pretty daunting thought. But having income protection in your back pocket gives you that extra bit of security when life throws something unexpected at you. It pays to know you've got some cover if things take an unexpected turn, and that's when income protection can be a lifesaver.

What exactly does "life insurance" entail anyway? Let’s get down to business as I try to explain the basics of what it is, how it works, the different types of policies available, and some of the frequently asked questions about it.

If your income protection policy is being paid through cashflow then some (or all) of the premiums will be tax deductible and as such your insurance provider will be mailing or emailing you the tax statements.

Current income protection products are generous, and as a result, insurance companies are losing money. APRA (The insurance regulator) has stepped in to create rules to make insurance policies taken out after 1 October 2021 more sustainable. This means that insurance policies taken out before 1 October 2021 are likely to be better quality policies than covers taken out after the changes.