Online Quote  |  Homepage |  FAQ |  Insurance Glossary |  Contact Us |  Switch To Mob. Version

Home >> Income Protection for Lawyers

Income Protection for Lawyers

Lawyers are often encouraged to opt for income protection for lawyers’ plans since these plans offer various benefits that are not limited to receiving guaranteed compensation payments every month. Lawyers are given various options when they opt for an income protection plan and they can opt for one or more of the benefits mentioned below.

 

Benefits

 

Criteria

Insurers set a few criteria while issuing policies especially in the case of income protection for lawyers or doctors. To be eligible, the legal professionals should not only have commenced practice within the last 48 months but he should also earn $100,000 or more annually to get maximum compensations such as $60,000 annually. It is important to note that the second criterion is usually set by insurers who offer maximum compensation and not all insurers have this eligibility requirement.

In most cases, lawyers are offered up to 75% of their annual income as compensation payments however, a few factors such as the type of policy, the price of the policy and the benefits selected by the buyer will determine how much he will get paid after purchasing an  income protection plan.

 


Income Protection Insurance  Switch To Mob.Version
Follow Us:



Need Help? Call 1300 882 762
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.