Your ability to earn an income is one of your most valuable assets, providing the foundation for your lifestyle and future plans. Income protection insurance ensures that if you’re unable to work due to illness or injury, you’ll still receive a steady stream of income, allowing you to maintain your financial obligations and support your family’s needs.
At Luminosity, we offer income protection insurance plans tailored to your occupation, income level, and lifestyle. With flexible coverage options and benefit periods, you can customize a policy that suits your specific needs and provides the security you deserve.
Whether you’re self-employed, a sole breadwinner, or part of a dual-income household, income protection insurance provides invaluable peace of mind. In the event of unexpected illness or injury, you can rest assured knowing that your financial stability is safeguarded, allowing you to focus on your recovery without worrying about the bills.
Don’t leave your financial future to chance. Let Luminosity guide you towards a secure tomorrow with our comprehensive income protection insurance solutions.
Income Protection Insurance FAQs
Income protection insurance provides a monthly benefit if you are unable to work due to illness or injury. This benefit is designed to replace a portion of your lost income, typically up to 70%, helping you cover living expenses while you recover. The payments continue until you are able to return to work, reach the end of the benefit period specified in your policy, or reach retirement age, whichever comes first.
The duration of income protection payments depends on the benefit period selected in your policy. Benefit periods can range from a few months to several years, or until you reach a specified age, such as 65. When choosing a policy, it’s important to consider how long you might need support if you’re unable to work for an extended period.
Yes, self-employed individuals can obtain income protection insurance. In fact, it can be particularly valuable for self-employed people who may not have access to employer-provided sick leave or disability benefits. When applying, you will need to provide proof of your income, such as tax returns or business financial statements, to determine the appropriate level of coverage.