Income Protection Is a Must for the Self-Employed

Many people dream of being self-employed like Australian doctors. After all, the healthcare professionals here don't have to answer to anyone but themselves and get to keep their earnings all to themselves. However, being self-employed has its share of difficulties.

One such difficulty for these health practitioners is the absence of workers’ compensation. Unlike private employees, these doctors do not have an employer who is legally required to provide compensation for medical treatment in the event the doctor becomes sick or injured.

Similarly, doctors do not have paid leave credits. If they do not work, they do not get paid. This problem is compounded by the fact that doctors are constantly exposed to dangerous diseases and other workplace hazards. 

Fortunately, such a scenario can be easily avoided by investing in income protection insurance. Just as the name implies, this insurance policy covers you for any lost income you may encounter due to either critical illness or personal injury. This policy can easily be bundled along with a life insurance policy for maximum coverage.

When choosing income protection policy, deal only with experienced and dedicated financial planners. Do not hesitate these professionals how the claim process works and what documents are required. After all, the best financial planners are the ones who can help you make a claim quickly.

This entry was posted on Wednesday, 26 February 2014 and is filed under ,,. You can follow any responses to this entry through the RSS 2.0. You can leave a response.

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