Posts Tagged ‘death benefits’

Comparing Income Protection Insurance and Workers Compensation

Just because your employer is protecting you with worker's compensation cover, does not mean that you should disregard income protection insurance. There are many people out there who believe their worker's compensation is more than enough. Income protection is something you must instigate yourself, and is beyond what you are covered for with worker's compensation. A look at the issue.

  • What is worker's compensation? Worker's compensation is compulsory coverage employers must provide for their employees in Australia. There is no consistency between the states. The amount of benefit and payout time will vary considerably depending on the state. All normally provide coverage for: income replacement, permanent impairment, death benefits and medical expenses. You may get one or more coverage for any single instance.
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