Usually when applying for Income Protection Insurance, you need to prove your income although for self employed farmers this can be rather complicated given natural events such as drought, flood or delay in payments from the wool board!
Given these issues there is a select range of Australian Life Insurance companies that will offer terms and waive their usual minimum requirements to provide financial evidence.
You can now have up to $3,500 monthly benefit without any need of financial evidence or if you can provide a net positive balance sheet you may be able to increase your benefit to $5,000 per month.
Benefit period can be applied to age 65 with a 30 day wait as a minimum in most cases.
We are a risk insurance specialists who can help you tailor your personal insurance policy. We research Income Protection Insurance companies and can give you the right advice to help you determine the policy that’s right for you.
Note: Agreed Value Income Protection policies are now grandfathered and no longer open for new business.
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