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Income protection means you can receive up to 75 per cent of your income, in the event of not being able to work due to illness or injury. And the good news is that it in most cases, it is 100 per cent tax deductible.
While no one enjoys paying insurance, income protection really is one of the "must-haves". Without it, should illness or injury occur (and it easily can), you could potentially wipe out your savings, just to cover living expenses. Or even go into debt. That's somewhere no one enjoys being.© Copyright 2006 - 2010 ratesonline.com.au Pty. Ltd.