Income protection insurance

yiminlei

Thinking about buying income protection insurance, not sure how much I should spend. Any suggestion?

Murphy

感觉限制多多。没有什么具体的鸟用。

笑面猫

原帖由 yiminlei 于 2012-2-18 17:55 发表
Thinking about buying income protection insurance, not sure how much I should spend. Any suggestion?

这个应该是个人理财吧？我也有Income Protection Insurance，我买的赔付金额最多只能是工资的75%，由于公司已经cover从30天到2年，我就买了从2年到65岁，每个月大概40多。这个insurance不方便的是不像life insurance，不能从super直接扣，要自己出，不过年底可以退税

yiminlei

May I ask which insurance company you go with? I got a quote for more than 500/month. i think that's too much. Sorry, can 版主 move over to another section?

cycwong21

Well, income protection insurance premium is depend on your salary level. If you are receiving high salary, then need to pay high premium.

Brother

楼主也有可能从事的是高风险职业，或者其他因素，所以premium就高。
价格最主要的因素
（1）工作性质（办公室文员一定比工地上的要风险低）
（2）工资（就是保险额）
（3）吸烟，酗酒否，本身身体状况（过渡肥胖，家族遗传史，或者有其他疾病病）
（4）年龄，性别（一般40来岁的风险都比较高，所以保非会明显提高）一般IP到59岁就结束了。
（5）等待期waiting period （月长越便宜）和benefit period （越短越便宜）

另外有super也提供IP的，有的叫TSC(temporary salary continuance),产品的feature 可能不那么好。
一般不要找那些小的保险公司，因为万一claim起来，他们限制多多，买了白买。
cominsure (Commonwealth Bank), AMP, Westpac, ING/OnePath (ANZ) ，MLC (NAB),这些大的就行. 如果参数一样，价格应该不会特别便宜或者特别贵的。
如果还有很多问题，最好还是找个planner

yiminlei

Thanks.
I think i can choose just benefit 50% of my income to drop down my premium. Is it right?
I don't know why my planner suggest company BT, have you heard about it?
I really feel uncomfortable to pay more than 500 a month just for one insurance. Agree?

Brother

Dropping down the cover will reduce the benefit hence the premium.
BT is part of Westpac.  Your planner should suggest the best cover for you.
Please make sure you have enough cover to go by if anything happen.
Any IP benefit you receive are taxable income, hence the premium is tax deductible (so I guess you are paying less than $350 after deduction)
Should you also consider Trauma cover (lump sum) which is not taxable and premium is not deductible.
Trauma cover doesn't care about your occupation (in case you are in high risk occupation) .