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IUS Income Protection Insurance

Why Opt for Income Insurance Plans?

Life is filled with uncertainties and while we cannot remove these uncertainties from our lives, we can certainly be prepared for various situations that life may throw our way. Income protection plans are a must for both single adults and families since these plans ensure your financial stability if in case you are unable to go to work for a month or more and earn a steady income.

The income protection plans that are currently available in the Australian market offer up to 75% of your annual salary amount towards timely compensation payments when you file a claim through the insurer. Additional benefits are also offered to members of super funds. A wide range of perks are offered to members of group insurance plans.


Benefits of Group Income Insurance

There are various types of income insurance plans available online and through insurers, while premium policies have their own benefits; group insurance plans are more beneficial for some people. Mentioned below are the benefits of group income insurance plans and the need for an underwriter when you purchase an income protection insurance plan. Group income insurance plans are beneficial for both the employer and the employee since it helps the employer help his workers when they are unwell and also ensures that the workers are well taken care of by the insurer when they are unwell or injured.

Group income insurance plans can also reduce the impact of illness and early retirement on pension plans offered by the employer. Additional benefits offered by group insurance plans such as rehabilitation benefits and tax concessions can help the employee significantly save money when he is ill or disabled. Usually a professional team that counsels employees is also available when an employee opts for group income insurance plans.

The Need for an Underwriter

Insurance is all about reducing your risks and increasing your odds of surviving illness, injury or other catastrophic events. An underwriter not only calculates your risks but also takes care of statistics that can be confusing for you. Underwriters also explain the policy to you and ensure that you have understood the terms, conditions and other aspects of the chosen policy. Underwriting companies such as IUS play a crucial role in determining the amount you are going to pay towards premiums every year to the insurer.

Companies like IUS follow a step by step procedure to ensure that you get maximum benefits from the chosen policy. For instance, a representative from the company will first educate you about the chosen policy, after which the documents will be handed over to the payroll department and finally a meeting would be arranged every few months with a representative from IUS to resolve any issues related to the policy.Various other steps are also taken to ensure smooth claims procedures and customer satisfaction.

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Income protection is a crucial part of any comprehensive financial plan. If you�d like some help customising the correct policy for you, or want to know more about the income protection insurance benefits.