Income Protection Insurance
What is Income Protection Insurance?
Income Protection Insurance provides a monthly income if you become unable to work due to illness, injury, or disability. Typically, it covers 62.5% to 75% of your regular income, ensuring you can maintain your lifestyle and meet financial commitments even when you’re not working.
At Silverstone Financial, we help you understand your options and secure a policy that supports you when life takes an unexpected turn. We guide you from start to end.
Why Do I Need Income Protection Insurance?
Without income, covering essential expenses like mortgage repayments, rent, and daily living costs can become challenging. Income Protection Insurance offers:
Income Replacement
Receive a portion of your income if you’re unable to work due to illness or injury.
Business Protection
For self-employed individuals, it can cover up to 75% of your business income, helping to manage business expenses or hire temporary assistance during recovery.
Flexible Payment Terms
Choose payment durations ranging from 2 years up to age 65 or 70, depending on your needs.
Additional Benefits of Trauma Recovery Insurance
-
Flexible Coverage
Options
You can choose coverage levels based on your needs and income, helping you match the policy to your financial situation.
-
Waiver of
Premium
Some policies offer a waiver of premium if you’re unable to work due to injury or illness for a certain period.
- Additional Coverage for Mental Health
Income protection can often cover mental health conditions, providing support if you need time off for psychological reasons.
-
Return-to-Work
Benefits
Some insurers offer return-to-work assistance, helping you transition back into the workforce after a period of absence.
How to Claim Income Protection Insurance?
To file a claim:
-
Notify Your Silverstone Financial
Services or Your Insurer
Inform your insurance provider as soon as you’re unable to work due to illness or injury.
- Provide Documentation
Submit necessary medical records and any other required documents.
- Claim Assessment
The insurer will assess your claim based on the policy terms and conditions.
- Receive Payout
Upon approval, you’ll receive monthly payments to replace a portion of your income for the agreed-upon period.
Why Choose Silverstone Financial for Income Protection Insurance?
We help you protect the income that keeps your life moving — even when illness or injury stops you in your tracks.
Smart Income Analysis
We evaluate your income sources and expenses to recommend suitable benefit amounts and wait periods.
Customisable Policies
Choose benefit periods, payment terms, and add-ons that suit your unique job and risk profile.
Support During Recovery
We help ensure a smooth income stream while you focus on getting back to work.
Long-Term Engagement
We’re your partners in financial wellbeing — reviewing and refining cover as your career evolves.