own occupation
From a tax perspective, while the contributions paid towards your income protection policy are no longer a tax-deductible expense, the income paid from your policy should you qualify for a claim are free from tax.
Be sure to check the term of your policy. Death benefits can be purchased for a fixed term, such as ten or twenty years, or for whole of life. Similarly, some benefits, such dread disease and disability cover, cease at
There is a big difference between brokers who are financially incentivised to sell insurance policies, on the one hand, and financial advisors who charge a professional fee.
Now is a good time to check the beneficiary nomination on your policy as this can affect how, when and to whom the claim is paid out. If you have nominated your estate as the beneficiary on your policy, the
