Searching around for injury and illness insurance quotes can be time consuming and confusing.
You want to ensure you’re comparing apples with apples. At the core of it all, there are a few simple questions you can ask to ensure you’re getting the best injury and illness insurance quotes for your situation.
Question # 1 - What’s the waiting period?
Waiting periods differ from policy to policy. They can be as low as 1 week, and as high as 6 months. They act in a similar way to the traditional policy excess, but instead of paying an amount upfront, you wait a period of time before payments start.
Question # 2 - What’s the sum insured?
The sum insured, or benefit amount is the limit you will be paid in the event of an injury or illness. This may a weekly, fortnightly or monthly benefit. This is important to understand for budgeting.
It’s also important to note that most insurers will generally require proof of earnings to substantiate what you’re claiming. This can be provided when you need to claim and is also factored in to the price you pay for your policy.
Question 3 - What’s the benefit period?
The benefit period is the maximum length of time your policy pays out for. The minimum period is 12 months, however you can chose to be covered until the age of 65, depending on factors such as policy type, occupation, and medical history. This is an important factor to consider with injury and illness insurance quotes.
At imar, our experienced client managers can assist with a range of injury and illness insurance quotes. We also offer income protection policies with a broader range of coverage, and consider your personal circumstances, through our in-house financial adviser. Visit www.imar.com.au today to get in touch.
You should consider if the insurance is suitable for you and read the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and policy wording before making a decision to acquire insurance. Please ask us for more details before we provide you with our services. Our FSG is available on our website.
You want to ensure you’re comparing apples with apples. At the core of it all, there are a few simple questions you can ask to ensure you’re getting the best injury and illness insurance quotes for your situation.
Question # 1 - What’s the waiting period?
Waiting periods differ from policy to policy. They can be as low as 1 week, and as high as 6 months. They act in a similar way to the traditional policy excess, but instead of paying an amount upfront, you wait a period of time before payments start.
Question # 2 - What’s the sum insured?
The sum insured, or benefit amount is the limit you will be paid in the event of an injury or illness. This may a weekly, fortnightly or monthly benefit. This is important to understand for budgeting.
It’s also important to note that most insurers will generally require proof of earnings to substantiate what you’re claiming. This can be provided when you need to claim and is also factored in to the price you pay for your policy.
Question 3 - What’s the benefit period?
The benefit period is the maximum length of time your policy pays out for. The minimum period is 12 months, however you can chose to be covered until the age of 65, depending on factors such as policy type, occupation, and medical history. This is an important factor to consider with injury and illness insurance quotes.
At imar, our experienced client managers can assist with a range of injury and illness insurance quotes. We also offer income protection policies with a broader range of coverage, and consider your personal circumstances, through our in-house financial adviser. Visit www.imar.com.au today to get in touch.
You should consider if the insurance is suitable for you and read the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and policy wording before making a decision to acquire insurance. Please ask us for more details before we provide you with our services. Our FSG is available on our website.