Do you have adequate income protection insurance?
While most tradies understand the importance of protecting their equipment and tools, many contractors fail to adequately cover their most important asset – themselves.
Working as a tradesperson in Australia can be a lucrative career choice when you’re on the job, but have you made adequate arrangements for when you need some time off to recover from an illness or injury?
If you suddenly found you were unable to perform the tasks that earn you an income, it would pay to be covered by a comprehensive tradesmen income protection insurance policy.
Income protection cover will pay up to 75 per cent of your income if you get ill or injured. This will ensure you can still manage your living expenses while you recover.
While not all policies are created equal, income protection generally provides cover 24 hours a day, seven days a week.
If you’re relying on workers compensation insurance to protect against loss of income, it is important to know workers compensation will only cover you for injuries and illnesses caused as a direct result of your employment.
However, tradesmen income protection will compensate your income in the event of any illness or injury, regardless of its relation to your work.
Additionally, if you are able to return to work in a part-time capacity during your recovery, income protection insurance can provide partial payments to support your gradual transition into full-time employment.
So instead of worrying about mounting debts when you get sick or injured, you can focus on what is really important – your health.
Protect you and your family’s financial well-being by adding income protection cover to your tradies insurance policy.
For income protection insurance that is tailored to your needs and requirements, talk to the Trades Insurance team today.