Income Protection Insurance is a policy that provides payments in place of your regular income in the event of an injury or illness, especially if you are away from work for an extended period of time. The amount of monthly benefit received is determined by your policy choice, and can be up to 75% of your usual income. Policy options are designed to suit individual requirements and are generally structured for benefit periods spanning 2 years, 5 years, or until age 65 or 70.
2014 is likely to be another milestone for the superannuation industry, with forecasters expecting self managed super funds to account for one third of all Australian superannuation assets. Self managed superannuation is not suitable for everyone, so why does it remain a major market growth sector? Below are some advantages that have led to the continued uptake by newcomers of self managed super funds.