Income Protection

Hard Earned + Worth Protecting = Income Protection Plan

You have worked hard for your income and enjoy the lifestyle it provides you with. But what if it came to a sudden stop? How would you maintain the same standard of living, put petrol in the tank, pay the mortgage, and remain financially independent?

Income protection is a highly effective way of safeguarding yourself from the single greatest threat you may face – sickness or injury. Macquarie Life's Income cover provides a substitute stream of money when you are unable to earn an income due to sickness or injury.

Some of the important benefits offered by the Income Protection Plan include:

·         Total Disability Benefit – A monthly benefit of up to 75% of normal ongoing income paid if you suffer total disability.

·         Partial Disability Benefit – A monthly benefit paid when you can only work in a reduced capacity due to sickness or injury.

·         Flexible waiting periods – You can choose 30, 60, 90, 365 or 730 days as a waiting period before you get paid. This allows you to reduce costs if you have extended sick leave or can sustain a period without income.

·         Recurrent Disability Benefit – If a disability reoccurs from the same or related cause within 12 months of the claim ending, it will be treated as a continuation of the original claim. This means you don’t have to wait for benefits to recommence.

·         Specific Injury Benefit - if you suffer from a listed injury (as per the PDS), Macquarie Life will pay the monthly benefit for the number of months indicated, regardless of whether you are totally disabled.

·         Death Benefit - Macquarie Life will pay up to four times the Monthly Amount of Cover, to a maximum of $75,000, if you die during the period of cover.

Please refer to the Product Disclosure Statement for further information.