Investment, Insurance, Superannuation
Have you ever thought what would happen to your family and your lifestyle if you were suddenly unable to work? In Australia, three out of four families have no income protection1- an injury or illness can be devastating.
OnePath Life’s EasyProtect Income may help you cover your household and family obligations if you’re suddenly unable to work.
EasyProtect Income, can provide up to 75% of your monthly earnings (to a maximum of $10,000 a month) for up to two years2. And you can choose from our range of cover options, which means you can customise your insurance policy to suit you. All you will have to worry about is getting better.
Take out this policy before June 30, 2012 and your Income Benefit premiums may be tax deductible in your 2011/2012 tax return.5
EasyProtect Income is issued by OnePath Life Limited (ABN 33 009 657 176, AFSL 238341). When deciding whether to acquire or to continue to hold this product, you should consider the OnePath EasyProtect Income Product Disclosure Statement and Policy (PDS), which is available online or by calling 1300 362 975.
1. Based on families with dependent children–The Lifewise/ NATSEM Underinsurance Report, Feb 2010
2 The monthly amount payable for a valid claim maybe less than the Income Benefit selected at the time of application, depending on your pre-claim earnings and other payments. The maximum monthly benefit available depends on your occupation category at time of application, and is up to $10,000 for a standard risk occupation, and up to $3000 for a special risk occupation. The monthly amount payable excludes Business Expenses. For special risk occupations, the Income Benefit is not payable for a disability caused by occupational duties.
3. Based on a 38 year old female non-smoker who is a qualified speech therapist and earns a gross annual income of $84,000 who can obtain an Income Benefit of $5,250 per month with a 2 year benefit period and a 30 day waiting period for a monthly premium of $60.52. The premium of $2 a day for this example does not include cover for the optional Total and Permanent Disability (TPD) Benefit. Premium may be higher or lower than $2 per day depending on individual factors such as age, gender, occupation and cover.
4 See the ‘Healthy Living Benefit’ section of the PDS for more details.
5 The Income Benefit will generally be considered income replacement. Therefore the premiums for the Income Benefit may be tax deductible, and Income Benefit payments will generally be assessable as income. The optional TPD Benefit is generally not considered to be income replacement. Therefore the premiums for the TPD Benefit will generally not be tax deductible. You should seek professional advice on your own taxation position.
* You must be a Qantas Frequent Flyer member and register valid membership details with OnePath to start earning Qantas Frequent Flyer points on Eligible OnePath premiums you pay. Points are earned in accordance with the ‘OnePath and Qantas Frequent Flyer Rewards Terms and Conditions’ . Membership and points are subject to Qantas Frequent Flyer program terms and conditions available at qantas.com/frequentflyer. Points are only earned on premiums you pay after OnePath has received your Qantas Frequent Flyer membership details. Qantas does not endorse, is not responsible for and does not provide any advice, opinion or recommendation about any insurance product.
# Complimentary join fee waiver offered by OnePath. This complimentary offer may be withdrawn at any time.