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Life Insurance

How Income Protection Can Help You and Your Family in Tough Times


Injury and sickness are stressful at the best of times, but even more so if they prevent you from going to work. Most of us have some sick leave up our sleeves, but what if you were unable to work for several months or more? It may become challenging to keep up with your family’s increasing expenses like mortgage, rent, groceries etc. Below are some ways Income Protection can help you and your family through tough times.

Help protect your savings and investments

Don’t put all your eggs in one basket. Relying solely on savings to cover your loss of income can be a risky move. Firstly, according to Moneysmart.gov, 43% of Australians have little or no savings at all – outside of superannuation – and would not be able to cover up to two years’ worth of lost income. And secondly, eating away at your hard-earned nest egg or investments can set you back years, which could leave you and your family financially vulnerable. With Suncorp Income Protection Insurance you can get cover for up to 75% of your monthly income (up to $10,000), if you’re unable to work due to sickness or injury.

Stay debt free

Relying on credit cards to pay the bills or put food on the table may be OK in the short term, but this can be challenging if you’re unable to work for several months or more. Burying yourself in credit card debt will not only add to your financial stress, you may end up paying more in interest repayments in order to keep your family afloat. Income Protection provides a monthly payout that may cover things like rent or other everyday expenses leaving you to focus on your recovery.

Take the pressure off

Having Income Protection can take some of the financial burden off your shoulders and allow you to concentrate on what’s most important: getting better and being back to work when you’re physically ready, not when you have to. Suncorp Income Protection also offers optional redundancy cover. This option allows you to cover 75% of your monthly income (up to a maximum of $4,000 a month), if you become involuntarily redundant; providing you with up to 3 months of paid cover while you look for another job.

You cover your car, home, and contents, so why not protect your income from the unexpected? Get an Income Protection Insurance quote online within minutes, with no medical tests needed to apply.

If you have any questions about how Income Protection Insurance can help you, then speak to our Suncorp Income Protection specialists on 13 11 55 (Mon to Fri 8am–8pm).

Suncorp Income Protection Insurance is issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530 AFSL 229880 and AAI Limited ABN 48 005 297 807, AFSL 230859 who only issues the redundancy benefit. Suncorp Income Protection Insurance is distributed by Suncorp Financial Services Pty Ltd ABN 50 010 844 621, AFSL 229885 (SFS). Any advice in this information is general advice only and has been prepared without taking into account any person's objectives, financial situation or needs. You should consider the Combined Product Disclosure Statement and Policy Document (PDS) for  Suncorp Income Protection before making any decisions about whether to acquire this product. Terms apply, including eligibility, 6 month no-claim period for the redundancy benefit and a 30 day waiting period.

Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Disclosure Statement or Product Information Document before making any decisions about whether to acquire a product

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