Life Insurance Blog

Income Protection Policies for Australian Farmers

May 23rd, 2013 | Posted by Editor in Articles - (Comments Off on Income Protection Policies for Australian Farmers)

What is an income protection policy?

Before looking specifically at income protection policies for farmers it makes sense to quickly look at exactly what this type of insurance policy provides the insured. In short, the person named on the policy can claim for a percentage of their income each month should they become unable to work due to illness or injury. There are of course limitations to every policy and criteria do have to be met before a claim can be made but when an illness or injury qualifies then up to 75% of the normal income from employment can be claimed on a policy.

Why Australian farmers need income protection

Farming is more than just a job, it’s a way of life. If you, as a farmer, become sick or injured to the extent that you can’t work your farm then everything grinds to a halt. You might miss your crop planting season, or you might be unable to harvest what you’ve grown and as a result you’ll struggle financially for years to come, literally.

In the short term, an income protection insurance policy can provide a guaranteed income to pay your bills and put food on the table. Long term though it can also pay to hire a farm labourer to complete the tasks you can’t because of your illness or injury. This way your crops get planted and harvested, your cattle get milked or taken to market and you don’t have to worry about your immediate future while you recuperate.

Are you scared of life insurance? Don’t be!

May 8th, 2013 | Posted by Editor in Articles - (Comments Off on Are you scared of life insurance? Don’t be!)

Just the words “life insurance” can make many of us want to run for the exits! You might be picturing a grim insurance salesman dressed like an undertaker, predicting only doom and gloom. It’s perfectly understandable to want to put off thinking about insurance for yourself, but you might not know that there are actually a number of different policy types available, with many specifically designed to support you through recovery from serious life-changing events such as illness and serious injury.