Workers’ Compensation vs Income Protection

Workers’ Compensation vs Income Protection

Did you know?

Employees covered by workers’ compensation insurance may question the need for income protection.

However, from July 2009 to June 2010, only 5.3% of people suffered a work-related injury or illness and less than 36% of these people received financial assistance through workers’ compensation*.

Plus with recent changes to workers’ compensation legislation, particularly in NSW where there is unlikely to be any cover out of working hours including the journey to and from work, educating clients on the need for income protection may be more important than ever.

Only 31% of Australians have income protection insurance^.  In line with recent media coverage, now is the perfect time to educate potential clients on the differences between these covers and the very real need to protect their most valuable asset – their income.

Speak to one of our experienced financial advisers today to ensure that you are appropriately and adequately insured with respect to Income Protection!

*Australian Bureau of Statistics, Work-Related injuries