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Thread: Insurance - Personal Accident or Income Protection?

  1. #1
    Member of forum jd's Avatar
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    Question Insurance - Personal Accident or Income Protection?

    Hi folks,

    Just wondering if anyone out there has/thinking of getting income protection insurance?

    I have always just gone down the personal accident (no sickness benefit) track but considering income protection.

    What's your opinion?

  2. #2
    Senior Member kevinsuzanne's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    l have income protection that l pay privately theres a 4 week waiting period if something
    goes wrong and many exclusions

  3. #3
    Senior Member BeetleJuice's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    Off work for 2 months,what do you guys have for lawn round protection

  4. #4
    Member Macka's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    Work Cover it works out cheap and some Customers require it.

  5. #5
    Senior Member Bluey's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    Quote Originally Posted by Macka View Post
    Work Cover it works out cheap and some Customers require it.

    Might have changed but I looked into this a couple of years ago and a sole trader could not have work cover. Not classed as a worker. Had to have your own insurance
    Cheers

    Bluey
    Adelaide Home & Garden Solutions
    http://www.ahgs.com.au


    "Success occurs when no one is looking, failure occurs when everyone is watching."

  6. #6
    Senior Member GardeningSolutions's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    I have income protection insurance. 2 week waiting period. Covers 80% weekly average income and pays to age 65 if I cant return to work from injury.

  7. #7

    Default Re: Insurance - Personal Accident or Income Protection?

    Quote Originally Posted by Bluey View Post
    Might have changed but I looked into this a couple of years ago and a sole trader could not have work cover. Not classed as a worker. Had to have your own insurance
    No hasn't changed. Workcover is for employees - not sole operators. You are an employee if you run as a company

  8. #8
    Member of forum jd's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    Ended up going with personal accident (not illness) rather than the income protection. Only pays $750/week for up to 2 years with a 14 day waiting period($720 premium) but the income protection was $2000-$4000 which for mine is too excessive. Pity that Dean no longer does the personal accident cover....

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    Member hjl's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    Hi
    What brands of Personal Accident Insurance do people use?
    Is one brand better for us lawnies?
    Hi jd what brand of insurance do you have?

    Cheers
    hjl

  10. #10
    Member of forum jd's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    Quote Originally Posted by hjl View Post
    Hi
    What brands of Personal Accident Insurance do people use?
    Is one brand better for us lawnies?
    Hi jd what brand of insurance do you have?

    Cheers
    hjl
    Hi hjl,

    The insurance i use is through, dare i say it, jims insurance in Melbourne. Not that i could say i recommend them particularly. I think a lot of companies i was contacting were trying to push the income protection insurance. I found the cost prohibitive. But that's just my personal view. Interested to hear all views. Has anyone had hassles trying to claim either insurance. I mean at the end of the day they're all insurance companies so there's a fair chance you may get screwed either way.(i did spend a number of years in insurance).

  11. #11
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    Default Re: Insurance - Personal Accident or Income Protection?

    Quote Originally Posted by jd View Post
    Hi hjl,

    The insurance i use is through, dare i say it, jims insurance in Melbourne. Not that i could say i recommend them particularly. I think a lot of companies i was contacting were trying to push the income protection insurance. I found the cost prohibitive. But that's just my personal view. Interested to hear all views. Has anyone had hassles trying to claim either insurance. I mean at the end of the day they're all insurance companies so there's a great chance you will get screwed every way.(i did spend a number of years in insurance).
    Fixed your post for you
    Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
    And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you

  12. #12
    Member Redeye's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    bingo!!!!!!!!!!!!!




    http://curraronggardening.com/

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    Book of Redeye, Psalm 69

  13. #13
    Member of forum jd's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    touche Ian!!!!!!!!!!!

  14. #14
    Member of forum wizard's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    I have been a Jims franchisee for over 11 years, and have paid income protection insurance for that period, through the Jims broker. I have recently had a preliminary claim for time off due to double knee replacement surgery rejected . I say preliminary as I wanted confirmation of what I excess etc. for planning purposes before I committed to the surgery. My bewilderment at the rejection, maybe naivety on my part was due to this being a pre existing condition so not covered. I have, as a result, asked for some specific cover confirmation on particular illnesses before I commit and continue the policy, which is renewed every 12 months. Getting them to commit is almost impossible, so betwixt and between as to what to do. Be interested in any comments.

  15. #15
    Senior Member Chris B's Avatar
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    Default Re: Insurance - Personal Accident or Income Protection?

    This probably doesn't help much but many of those policies I find expensive and if possible just saving cash in a rainy day fund account can work out better
    especially the ones that only pay out $xxx for a limited time frame

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