Protecting your family’s most important asset – your income

Increase and retainArticle5 June 2023

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[HEADING]

Protecting your family's most important asset – your income

Protect your income – you'd be lost without it

[SUBHEADING]

You insure your car. You insure your home. You insure your health. You might even insure your pet’s health. But have you insured the thing without which none of this is possible? Here’s what you should do to protect your income and your family’s way of life.

[BODY COPY]

Your family relies on the money you bring home for everything from school uniforms to your mortgage. Your ability to earn an income is probably one of your family’s most valuable assets. If you can’t work and that income stream dries up, serious sacrifices may have to be made just to cover everyday expenses.  

Income protection insurance provides a replacement for lost income so that you can focus on your recovery. The amount of income it replaces can vary by the policy and the options you select, but while you can receive a payment of up to 90% of your pre-tax income replaced for the first six months, the typical amount is 75%.

What do I have to do to ensure that I’m insured? 

Many people already have income protection insurance coverage – or it’s available to them – through their superannuation fund. As a bonus, it’s generally cheaper than getting a policy by buying directly. Often, a medical exam won’t be required.

As a default, most income protection policies are set for a period of two years. This period can be increased for a small increase to the premium. You could set it to something like 5 years or until a certain age, like 65. This means you’d receive an insurance benefit until you reach 65 and may be able to start drawing on your super.

Other options are also available, such as changing the waiting period before your insurance begins to pay out. Most policies have a waiting period of between two weeks and two years and changing the waiting period can affect the premium. The longer the waiting period, the cheaper the policy.

If you have insurance through your super, the best thing to do is review the product disclosure statement (PDS) or insurance guide to see what kind of coverage you have. We offer free consultation to review your insurance needs based on your personal circumstances. <<Up to the fund. Can be deleted if the fund doesn't offer advice>>

Concerned about your coverage? The best thing to do is give us a call on <<phone number>> or schedule a time to have a chat with us about your options to get the best outcome to support your family’s stability and protect their way of life if something bad were to happen to you.

Do I need income protection insurance?

Here are a few things you need to consider when thinking about income protection insurance

  • Do I have sufficient sick leave available if I am unable to work for an extended period?
  • Do I have family members that rely on my income?
  • Do I have debts that I would be unable to pay, such as a mortgage, if I were unable to work?
  • How long could I go without earning an income before my savings were drained?

eDM, LinkedIn and Socials

 

eDM

Subject line Have you protected your family’s most important asset?  
Pre-header text

It’s not home, but it’s closer to it than you might think!
Header image copy  
Headline You insure your car, home, health, even your pet – but have you forgotten the most important thing of all? You and your income
Salutation Dear <name>
Introduction

Your family relies on the money you bring home for everything from school uniforms to your mortgage.

Your ability to earn an income is probably one of your family’s most valuable assets.

If you can’t work and that income stream dries up, serious sacrifices may have to be made just to cover everyday expenses.  
Body

Income protection insurance provides a replacement for lost income if you are injured or unwell, so you can focus on your recovery.

The amount of income it replaces can vary by the policy and the options you select, but generally you can receive a payment of up to 90% of your pre-tax income replaced for the first six months and up to 70% of your salary for a specified time after those six months.

Many people already have income protection insurance coverage – or it’s available to them – through their superannuation fund. As a bonus, it’s generally cheaper than getting a policy by buying directly. 

Here are a few things to consider when thinking about income protection insurance:

  • Do I have enough sick leave if I am unable to work for an extended period? 
  • Do I have family members that rely on my income? 
  • Do I have debts I couldn’t pay if I were unable to work? 
  • How long could I go before my savings dried up? 

If you have insurance through your super, the best thing to do is review the product disclosure statement (PDS) to see what kind of coverage you have. We offer free consultation to review your insurance needs based on your personal circumstances. 
CTA For more information, read our full article <here>
Sign-off Regards, <name/team>
Disclaimer <<disclaimer copy>>

 

LinkedIn post

Introduction

You insure your car, home, health, even your pet – but have you forgotten the most important thing of all? You and your ability to earn an income! 

Your family relies on you for everything from school uniforms to your mortgage. 

If you can’t work and that income stream dries up, serious sacrifices may have to be made just to cover everyday expenses.    
Body

Income protection insurance provides a replacement for lost income if you are injured or unwell, so you can focus on your recovery.

The amount of income it replaces can vary by the policy and the options you select, but generally you can receive a payment of up to 90% of your pre-tax income replaced for the first six months and up to 70% of your salary for a specified time after those six months.  

Many people already have income protection insurance coverage – or it’s available to them – through their superannuation fund. As a bonus, it’s generally cheaper than getting a policy by buying directly. 

Here are a few things to consider when thinking about income protection insurance:

  • Do I have enough sick leave if I am unable to work for an extended period? 
  • Do I have family members that rely on my income? 
  • Do I have debts I couldn’t pay if I were unable to work? 
  • How long could I go before my savings dried up? 

If you have insurance through your super, the best thing to do is review the product disclosure statement to see what kind of cover you have. And we offer free consultations to review your insurance needs. 
CTA For more information, read our full article <here>.

 

Social post

Introduction You insure your car, home, health, even your pet – but have you forgotten the most important thing of all? You and your ability to earn an income!
Body

Your family relies on the money you bring home for everything from school uniforms to your mortgage.

If you can’t work, you may not be able to meet everyday expenses.

Income protection insurance provides a replacement for lost income if you are injured or unwell, so you can focus on recovery. 
CTA Click <here> for more information.

This information provides an overview only on specific topics and may be limited in scope or subject to qualifications and generalisations. It is provided for your use with insureds and superannuation fund members.

The information provided is also designed to be provided to insureds and superannuation fund members under your own name and any applicable licenses. You will need to consider whether the information is required to be changed or qualified in doing so. To the extent that there is inconsistency between the information on this website and the relevant policy, the policy will take precedence. You should take professional advice and review the appropriateness of the information before it is used by you.

This information does not consider any specific personal needs, objectives, or financial circumstances.

© Zurich Australia Limited ABN 92 000 010 195, AFSL 232510. Information within it is current as at May 2023 but may be subject to change. Updated information will be available by contacting Customer Service on 131 551.