Tradies - Why protect your income?

A tradies’ health is their most important tool, yet Australian tradies experience some of the highest rates of injury and time off work compared to other workers. “In fact, 3 in 5 serious workplace injuries involve a tradie, despite tradies making up only 30 per cent of the Australian workforce” according to the Australian Physio Therapy Association.

Safe Work Australia states, the most common types of serious claims included:

• Traumatic joint injuries 44%

• Wounds/lacerations 18%

• Musculoskeletal disorders 15%

• Fractures 10%

Note: ‘Tradies’ are comprised of technicians and trades workers, labourers, and machinery operators and drivers’.

Life doesn’t always go according to plan, we can help you make sure that your most important asset is protected.

If you are unable to work for an extended period due to illness or injury, you could receive a monthly benefit of up to 70% of your income to help replace your lost earnings while you recover.

The premiums for income protection insurance can be structured in a number of cost effective ways and are generally tax-deductible* and benefits received will generally be assessable as income (seek advice from your accountant).

Most income protection policies offer a range of waiting periods before you start receiving your insurance benefit (with options normally between 14 days and two years). You can also choose from a range of benefit payment periods, with maximum cover generally available to age 65.

Contact GL Financial Planning today for an obligation free insurance review today on 03 5222 2355.

By Shane

GENERAL ADVICE WARNING: Any advice in this site is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.