What is it?
A replacement monthly income if you are injured or sick and can’t work.
What are the benefits?
As a self employed business OWNER this is your sick leave. As an employee this is over beyond your sick leave.
Provides a replacement monthly income if you are injured or sick and cant work.
Covers you 24/7 and worldwide, even on holiday!
The benefit can replace up to 75% of your taxable income.
Cover can be set up so that in a worst case scenario, you can potentially receive a replacement monthly income, indexed each year to the CPI until you are 65.
Generally tax deductible (consult your tax professional).
Really, If you are self employed this is a no brainer priority insurance cover, especially if you are the breadwinner in your household.
This is a living insurance!
Think about this
Job Offer 1
$100,000 per year with 2 weeks sick leave each year.
Job Offer 2
$98,000 per year with sick leave continuous to aged 65.
Which one would you take?
The questions really is, would you sacrifice 2% of your gross income, get a tax deduction for it to ensure up to 75% of your income until age 65?
Or are you happy with 2 weeks sick leave per year?