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Income Protection for Accountants

Should You Opt for Income Protection for Accountants?

If you are either a self employed accountant or if you are hired by a company as an accountant then you should opt for a specialized income protection plan for accountants since these plans offer u to 75% compensation of the total pre tax salary amount. Since this compensation amount is tax deductible, you can also get tax benefits. If you have superannuation benefits as part of your salary package then you may receive up to an additional 8% compensation as well. These insurance plans can help you and your family, live a stress free life when you cannot work due to many reasons such as illness or injury.

 

I am Self Employed, Should I Opt for A Comprehensive Policy?

By opting for a comprehensive policy, you as a self employed individual can get maximum benefits that include monthly compensation payments, disability and illness benefits. Some insurers offer a fixed annual amount to buyers that can total up to $60,000 provided that the buyer meets the set requirements of the selected insurer.

 

What Other Benefits Do Buyers Get when they opt for Income Protection for Accountants?

Over and above receiving 75% compensation as monthly payments from the insurer, you may also be eligible to receive a death benefit or total and permanent disability benefits. Some insurers who offer comprehensive policies may also offer compensation for your spouse if he or she has to take care of you while you are confined to a bed. As a general rule, buyers who opt for agreed value contracts are likely to get additional benefits such as guaranteed compensation payments.


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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.