Income Protection Insurance has some very essential aspects attached such it being your income source when you become injured or too sick to earn a regular income. Life is highly unpredictable and no one can actually gauge that what is in store us at the next step of our life. Income Protection Insurance is usually not considered that important since people think that till the time they are young and earning they do not need such a insurance policy. But the fact remains that no one knows when fate might play a trick on us and we are not able to get in the regular income flow.

It is always a wise advice to opt for an Income Protection Insurance Policy as soon as you start earning so that you start paying premiums early. In case of any mishap that leaves the ‘person insured’ in a condition where they are not able to earn,then the premiums paid earlier will come in as a savior in the form of the sum assured. A lot many financial commitments need to be kept even if you are facing a financial crunch and at this time the Income Protection Insurance comes in as a big help.

It is always advisable to consult an Insurance adviser so that you may opt for the right Income Protection Insurance plan as per your requirement. Many Insurance houses have started offering Income Insurance Policies but it is essential to check their past track records in terms of their policy claims payment. So, if you wish to insure your income from any untoward event then touch base with us by visiting www.insurancekings.com.au Our comprehensive Income Protection Insurance will surely impress you. So, contact our insurance experts at www.insurancekings.com.au and they will suggest you the best Income Protection Insurance Plan that will meet all your financial requirements.

A Life Insurance gives you the security that in any case of injury, accident, illness or death you will get a reimbursement equal to the value of life quality that is affected by that certain event, and that your family and your loved ones are taken care off, even when you are unable to do so yourself. There are many reputable insurers offering all kinds of advice and assistance when it comes to selecting the right level of cover, so that you don’t get confused in the process.

Life Insurance- Lifts The Burden Off Your Family

Life Insurance helps a lot in easing the financial burden that rests on many families after the death of a family member. When the breadwinner passes away, the main part of the family income is lost. Life Insurance will provide your family financial cover in the unfortunate event of your death. The amount can be paid in a lump sum and invested in order to pay out the income required, or paid as a pension to the beneficiaries in monthly installments.

Internet has made it really easy to look around for different insurance plans and policies. However, choosing a plan that best suits yours and your family’s needs is a must.

www.insurancekings.com.au you can buy direct life insurance deals to meet your needs.

Funeral Insurance- Accessible and Affordable

Funeral Insurance or burial insurance,comes under the same umbrella as Life Insurance or Income Protection Insurance. This insurance is relatively inexpensive as compared to others and therefor it is affordable for people to take out funeral Insurance for themselves as well as other family members too. The payout under this policy is made out to your family at the time of your death. The amount paid out can range widely, but most plans pay upto $15,000.

There are a number of funeral plans, available in the insurance market, however most plans will accept anyone between the ages of 19 to 80 into them.

Benefist offered by Ezicover Funeral Plan

• Highly affordable, provides financial security to your family ,from less then 80c per day.
• In case of accidental death, provides benefit, that is double the cost of the standard payout.
• Makes funeral Insurance accessible by providing plans, that ranges from – $5,000, $10,000 or $15,000.
• Guaranteed acceptance for anyone between the ages 19 and 80 years.
• Will cover you until your death, provided you pay your low cost premiums when due.
• Provides cover, even when the premium cease at 90.
• Easy and simple to apply for.

Visit InsuranceKings.com now, and get expert advice and details on funeral plan, that best suit your needs and pocket.



Many individuals insure their houses and other assets but few realise the importance of protecting the greatest asset, which is their ability to earn regular income. This is where Income Protection Insurance steps in, providing this protection to you if an eventuality like an accident, or illness strikes and when you are unable to perform your own occupation. Today, a number of people experience the need for income protection insurance in Australia.

In essence, Income protection insurance provides for a proportion of an individual’s income (75%) if he or she is unable to work due to injury or sickness.

Premiums of an Income Protection Insurance vary depending upon age and other factors. Generally speaking, an income protection policy costs around one week’s salary, a year which comes to around 2 % of gross income. The younger you are, the less you pay for your income protection insurance. Also, blue collar occupations have higher premiums as compared to white collar occupations.

If the policy holder is unable to work for the prescribed waiting period, he is eligible to make a claim for benefits of the income protection insurance. But one must be medically unfit to work, as certified by their doctor. The Doctor also reports back to the insurance company with regular check-ups

Income protection insurance ensures that you keep paying your bills. For more information on Income protection insurance visit www.insurancekings.com.au.

WHY DO I NEED A FUNERAL INSURANCE?

Funeral Insurance or a burial policy is a Insurance that is designed to cover your end of life expenses and ease the burden of finances on your distressed family. Funeral insurance will pay for funeral costs such as casket, ceremony, church hire and more. In case of death due to accident the entire benefit is given immediately.

BENEFITS UNDER A FUNERAL INSURANCE COVER

• This insurance policy will automatically accept people betweent he age of 19 and 80
• This policy also gives the options for monthly and fortnightly payments.

• You don’t have to fill in any health or medical details when you apply for this policy.

• In case of an accidental death, the benefits will be paid immediately bypassing any waiting period.
• In many cases the cover continues for life, however the premiums stop at the age of 90.

For young people thinking about a Funeral Insurance right now might be a little difficult, but if you are retired or nearing the retirement age, then it probably is the right time to get Funeral Insurance for you and your partner-visit www.insurancekings.com.au and the apply for a funeral plan today. A small amount each day could be a blessing in the future.

WHY Trauma INSURANCE IS IMPORTANT?

Trauma insurance policy or commonly known as Critical Illness Insurance can take care of debts like credit cards, house loans, mortgages and personal loans. All these can be paid off in one lump sum if you decide to take for this insurance policy. It can also provide finances for medical expenses required by the policy holder for recovery. Apart from that it can also in some cases provide a regular income stream so that the family does not struggle financially.

FACTORS CONSIDERED IN A TRAUMA INSURANCE

In a majority of cases, TRAUMA is covered under Life Insurance therefore factors like nature of the job, education and status of the policy holder at the time of ill health are taken into consideration. However, age, medical history and sex are the main factors that are looked at when acquiring a Trauma Insurance. Lifestyle and occupation are other important factors.

One has to read and understand the norms and factors before entering this type of policy, to avoid any confusion and disappointment at the time of making the claims. Trauma insurance is generally not tax deductible and therefore is paid out as a tax free lump sum upon claim. The nature of disability is a very important factor when making this insurance claim and will only be paid out if it is covered under the policy terms and conditions. Illnesses such as heart attack, stroke and cancer are the 3 main illnesses that trigger a trauma claim.

Insurance kings will assist you to find the plan which suits your requirements in the best possible way to safeguard yourself and your family.

To ensure the cancer didn’t spread, Anne continued with radiotherapy and chemotherapy treatment. Anne’s husband, Rob, took time off work to accompany Anne to the hospital for treatment. And while Anne’s mother was initially able to look after the children, it became apparent they would need to employ a nanny for ongoing care.

All of these changes put Anne and Rob underimmense stress. Fortunately, even though their family income dropped, they didn’t have to worry financially. On the birth of their first child, Rob and Anne had taken out an Insurance Kings Trauma policy. Their lump sum payment helped them to pay for travel and accommodation costs, a nanny during Anne’s treatment as well as paying other bills such as school fees and car payments.

They were also able to significantly reduce their mortgage. This was a huge relief for Anne, because it meant she could resign from her job, spend time with her family and remove some stress from her life.

Apply for Trauma Insurance today with Insurance Kings.

Fred and Anna are a married couple. Anna decides to take income protection on herself, but is advised to make Fred the policy owner for tax-deductibility purposes as he is on a higher marginal tax rate. Is this OK?

Income protection benefits are designed to replace the insured’s income. Section 8-1 ITAA 1997 allows a deduction for all losses and outgoings to the extent to which they are incurred in gaining or producing assessable income except where the outgoings are of a capital, private or domestic nature. This was confirmed by ATO ID 2001/405. However, there needs to be a sufficient connection between the purchase of income protection cover and the consequent earning of assessable income.

In Fred and Anna’s example above, there is clearly no link between the insured’s income and the policy owner’s proposed tax deduction. None of the premium would be tax deductible. Any monthly benefit due to a claim would be assessable to Anna at her marginal tax rate. Income protection policy proceeds are assessable even if the policy owner decides not to claim a tax deduction for the premiums (s6-5 ITAA 1997).

Both Fred and Anna are lives insured and joint policy owners in an income protection policy. They claim tax deductions in relation to their respective premiums (based on 75% of each person’s gross income). In this case, the ATO may allow their respective tax deductions, and the disability benefits would be assessable to the disabled policy owner. If there is a future marriage breakdown, however, both joint tenants would have to agree to any policy amendments. Yes, the spouses would save a policy fee, but self-ownership would be preferable.

Fred’s boss, Mr Slate, owns the Rock and Gravel Company. Fred takes out an income protection policy where he  s both life insured and policy owner. Because Mr Slate considers Fred to be an outstanding employee, he decides to pay Fred’s income protection premiums. The taxation implications are as follows:

• the premium will be tax deductible to the Rock and Gravel Company;
• the premium will not be subject to Fringe Benefits Tax (FBT) because the premiums would be otherwise deductible to Fred (sometimes referred to as the ‘otherwise deductible rule’
• the claim proceeds received by Fred will be subject to income tax; and
• the proceeds will not be subject to capital gains tax.

Premiums are also deductible to an employer and not subject to FBT where the income protection is used as a key person policy and the benefit is a form of income replacement to the business.

Summary

There are adverse tax consequences if a person who is not the life insured tries to claim income protection premiums as a deduction.
Income protection policies should be self-owned unless there is an appropriate business structure and relationship. Above all, individual insurers may also restrict the ownership in some of these scenarios and you should check with the underwriter first.

Contact Insurance Kings today to find out more information or apply online for your income protection policy.

The ‘genuine’ cover policy comes into play any time a successful claim is made up until the age of 70, as distinct from some policies which may continue up until the age of 70 but only if the claim was made prior to the age of 65, according to Phil Kewin, head of sales for life risk at Zurich.

“We know that Australians are working for much longer and now seek the reassurance of extended income protection cover. Traditionally, income protection policies have expired at age 65, leaving those who rely on an extended working life out in the cold when serious illness or injury occur,” he said.

As well as the existing ‘loss of income’ and ‘inability to perform a duty of the job’ criteria, Zurich have added a 10-hour rule allowing a person to continue working up to 10 hours per week without diminishing their claim benefit, Kewin said.

Zurich said it was one of only two insurers to offer income protection with an ‘age 55’ benefit option, meaning policy holders could choose ages 55, 60, 65 or 70, or benefit periods of two or five years.

Insurance Kings policies are underwritten by Zurich – to apply online please click here now.

It has been revealed that up to 59% of us break speed limits in 60km zones and, unsurprisingly, life insurance research shows that drivers are most likely to do this when they are running late.

One of the biggest distractions is eating and drinking which 53% admitted to doing whilst driving, followed by 12% admitting to smoking, 11% getting organised for a meeting, 7% on a mobile and 6% putting on makeup.

“We live faster paced lives than ever before with technology and goods and services available around the clock which has ultimately led to cultural changes in the way people live, work and as the research has revealed; drive,” said Insurance Kings director Luke Peake.

“We believe that driving is a privilege and with that privilege comes responsibility.”

Research has revealed 1 in 10 vehicles in Sydney are estimated to be driven by uninsured drivers, suggesting that Australians are twice as likely to be involved in a crash with a non-insured car. The risk of death or serious injury when involved in an accident with an uninsured car could have a significant impact on your family finances, which is why many consumers are increasingly taking out a life insurance policy online with Insurance Kings to provide an additional safety net.

Stay safe, apply online today.