It is generally difficult to satisfy the definition of TPD, therefore it is important to have cover to protect you if you become either partially or temporarily disabled. This type of risk can be covered with an income protection policy.

For most people, their ability to earn income is their most important asset.

An income protection policy will generally pay you up to 75% to 85% of your income if you are unable to work, for an extended period of time, due to an accident or illness. You can generally choose a waiting period between 14 days and two years before the cover commences. The longer the waiting period you chose the lower the premium. In addition, you can generally also choose to be covered for a specific period such as two years or to age 65.

Morgan Wealth Management Advisers can also advise you on an appropriate level of cash to be held in reserve to survive on while your waiting period passes.