If you are unable to work following a total or partial disability, it’s possible that you may be entitled to income protection insurance benefits through a specialised insurer, your bank, or even your superannuation. Many individuals are not aware of their ability to make a claim because it’s not always common to receive the income protection policy documents from an insurer.
Not being able to work due to illness or injury can have adverse effects. Not earning an income is one of them. Income protection is there to cover you for income loss due to ongoing medical conditions and or injuries.
Income protection insurance can be bought directly from an insurer or through your current bank or even through your existing Super fund. You might not even know you are covered or to what extent you will be covered.
Terms and conditions vary between insurers and a lot of the time you don’t receive any written policy regarding this cover. Income protection claims can often be very difficult to deal with; so it’s best you seek expert legal advice to help wherever possible, not only to make sense of the fine print, but also to help recoup your full entitlements as quickly as possible and for as long as you need to be covered.