Insurance

[WebBoard]

From: Mike .


Income Protection Insurance
From: James
Date: 12 Sep 2000
Time: 12:47:24

I am intending to take out income protection insurance. If you have this insurance or have contemplated it your comments would be welcome. I would especially be interested to hear about any claims problems. Personal Investment magazine has reviewed income protection insurance. If you know of any other reviews or sources of independent information this would be interesting.

The rough figures are $50 a month for $3000 benefit to age 65. I'm aware that the companies fine print (definition ) of when u are eligible to claim is important. Thanks

 

[WebBoard]

Jan C

Reply: 1
From: Mike .


Re: Income Protection Insurance
From: JanC
Date: 12 Sep 2000
Time: 22:43:26

Hi James

We are about to take out income protection insurance too. I went to the InsuranceWatch site for general info, they have calculators and such so you can get the general idea of varying rates etc but they do not give you the names of the companies except upon application. The site has some helpful hints about what to look for in a policy. We have decided to go with the National bank, but they make you take Life insurance as well.

Jan

 

[WebBoard]

Robert

Reply: 1.1
From: Mike .


Re: Income Protection Insurance
From: Robert
Date: 12 Sep 2000
Time: 16:13:35

I have recently taken out Income Protection Ins to cover myself, BUT, it doesn't cost me anything.

It does but it isn't really money I'd get to see for another 38 years anyway.

My ratrace superannuation is through the "great Australain" AMP... And I've taken out this insurance through my works superannuation policy.

It costs a mere $17 per month to cover myself for $3000. On top of this I've also taken out extra life insurance to the tune of nearly 7 figures for the about the same monthly cost.

If your still in the rat race check this out with your HR team (payroll officer)....

Robert