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Purchase Income Protection Insurance for Safe Work Places

Last modified: 26 Feb 2019

Why Purchase Income Protection Insurance for Safe Work Places?

Accidents occur unexpectedly and thus, being protected is a must especially for those people who have either young children or elderly parents waiting for them at home. While your work place may appear safe at first, and you may believe that not much can go wrong at your office since you have a desk job, it is important to note that income covers protect you against illness and injury that may occur elsewhere. These plans provide the said compensation payment when you are unable to perform your duties at work due to one or more problems. This means that if you have an unfortunate accident while on your way to work or elsewhere and you cannot work for a few months due to this accident, then your income insurer will give you the monthly compensation payment once your claim is approved.

Desk jobs are considered safe since the professional does not have to work with hazardous materials or perform any dangerous activities while at work. Most people who work at desk jobs often forget about health problems that can occur due to sitting in front of a computer all day, these jobs can also cause back problems and neck problems. Income protection plans ensure that you get a compensation payment if you are unable to perform your duties at work or if you cannot work due to such environmental hazards.

Limitation

While the Australian government has made a positive move by ensuring that all employees are covered by Worker’s Compensation Insurance, it is important to note that this mandatory type of coverage is usually not enough especially for majority of the employees in Australia. Workers compensation insurance offers only a limited amount of money towards a compensation payout when the employee is injured at work. This type of mandatory coverage does not offer adequate insurance and certainly does not offer a compensation payout if the injury or illness has occurred while the employee is not at the workplace.

 



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