Beer Bottle Accidents Saved By Income Protection
Did you know?
- 543 Australians were admitted to casualty departments in the last 2 years from attempting to open beer bottles with their teeth or eye socket.
- 142 Australians were injured in 1998 from trying on a brand new shirt & not taking out the pins first.
- 8 Australians cracked their skull in 1997 after falling asleep (passing out) while throwing up into the toilet.
- 18 Australians were seriously burned in 1998 from putting on jumpers while having a lit cigarette in their mouth.
- 58 Australians are injured each year by using sharp knives instead of screwdrivers.
- 101 Australians since 1997 have had to have broken parts of plastic toys pulled out of the soles of their feet.
(Source: Australian Bureau of Statistics 2006)
It may sound silly, but what if you couldn't work for an extended period from one of the above accidents happening to you? Accidents and illness happen, whether it is silly or more serious, like a broken pelvis from a skiing trip or glandular fever.
Most of us have never considered what would happen to our lives if we were unable to work due to sickness or injury, or how to protect ourselves from such a situation. The solution is income protection insurance cover.
What is Income Protection?
Income protection insurance replaces up to 75% of your income in the event of injury or illness. Once a waiting period has been satisfied (normally 30 days to 90 days), benefits may be paid for durations of 2 years, 5 years, to age 60, or to age 65.
Less than 1 in 10 working Australians has any income protection insurance (CommInsure 2004). That means that more than 9 million working Australians are risking their standard of living in the event of sickness or injury. It is estimated that Government benefits (Centrelink) would only be able to replace up to 40% of income - or as little as 12%! (CommInsure 2005).
Workers' Compensation is not enough - you still need income protection!
Workers' compensation benefits only cover work-related injuries, not illnesses or injuries occurring away from the workplace, and normally cease after either 26 weeks or 52 weeks. Less than 2/3 of all work related injuries qualify for workers compensation benefits (Work-Related Injuries Australia ABS 6324.0).
Based on current estimates, the average Australian without income protection insurance would be forced to survive on $29,000 less than they are currently earning if they were unable to work due to illness or injury (Dexx&R Underinsurance Report - 2004).
Will you be one of the 477,800 working Australians (1 in 20) this year who will experience time off work due to an injury or illness? (Work-Related Injuries Australia ABS 6324.0).
Survive accidents financially with income protection
Speak to an xLife specialist financial adviser so you can maintain your lifestyle & support your family if you were struck down by illness or injury. We can help you find the best accident income insurance policy, contact us for free income protection quotes.
Exclusive Offer! Call xLife on 1300 135 205 today and
save up to 20% on your first year's income protection premium.
April 2011
