Income Protection Insurance for the self employed
In most cases Australian Life Insurers are unwilling to provide income protection for the newly self employed with a history of less than 12 months. Although if you worked as an employ in the same industry then you can apply for a indemnity style income protection benefit. Here is a list of occupations that would qualify for an Indemnity style Income Protection policy.
This means that should you claim then you will need to prove your previous 12 months of income. After 12months of trading history you can usually change your policy to an agreed value.
Either way we have provided a Income Protection Insurance calculator to help you determine what amount you can Insure yourself for.
Although this can be a complex area so speak to one of our advisers who will be more than happy to help.
Get a Income Protection Insurance Quote for the Self Employed now